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Article 6. Co-operation of California Government Code >> Division 3. >> Title 4. >> Part 2. >> Chapter 19. >> Article 6.
The authority may enter into a contract and otherwise
co-operate with any federal agency or other federal officer, pursuant
to the Federal Property and Administration Services Act of 1949 or
other act of the Congress of the United States, by the terms of which
the authority may agree to purchase or receive property.
The authority may enter into a contract for the purchase of
said property over a period of years, not to exceed 40.
The authority may obligate itself to pay the purchase price
or installments thereof, in the manner and to the extent required
under federal law.
All revenues and income received from the sale or operation
of said property, after providing for administration, maintenance and
operation costs, shall be used and may be pledged to pay the
principal of the purchase price and the interest to accrue thereon,
or any bonds issued by it therefor.
The authority may enter into leases or contracts of sale of
said properties or any part thereof for such periods of time as it
deems will beneficially serve any requirements of the contract of
purchase, not to exceed 99 years.
The commission may, and, if required by any federal law,
shall, cause the validity of its existence, or the right of any of
its officers to perform their duties, or the validity of any
contract, or of any bonds issued by it therefor, or of any other of
its acts or proceedings, to be adjudicated by a court of competent
jurisdiction.
The action provided in Section 40575 shall be brought
against all persons, pursuant to Chapter 9 (commencing with Section
860) of Title 10 of Part 2 of the Code of Civil Procedure.
No contest of any thing or matter provided in this article
shall be made other than in the time and manner herein specified.
In any such action all findings of fact or conclusions of
the commission upon all matters shall be conclusive unless the action
was instituted within six months after the finding or conclusion was
made.
