Any net earnings of the authority beyond that necessary for retirement of any obligations issued by the authority or to implement the purposes of this division may inure to the benefit only of the state or the authority.
Cal. Gov. Code § 64129
CALIFORNIA TRANSPORTATION FINANCING AUTHORITY
Known as the California Transportation Financing Authority Act
The act spans §§ 64100–64132 (34 sections).
Added by Stats. 2009, Ch. 474, Sec. 1
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.