Section 64108 Of Division 3. California Transportation Financing Authority From California Government Code >> Division 3. >> Title 6.7.
64108
. All expenses of the authority incurred in carrying out the
provisions of this division shall be payable solely from funds
provided pursuant to this division, and no liability shall be
incurred by the authority beyond the extent to which moneys shall
have been provided under this division, except that for the purposes
of meeting the necessary expenses of initial organization and
operation of the authority for the period commencing January 1, 2010,
and continuing until the date the authority derives money from funds
provided to it under the provisions of this division, the authority
may borrow moneys as the authority may require. Any moneys borrowed
by the authority shall subsequently be charged to and apportioned
among project sponsors in an equitable manner and the moneys repaid
with appropriate interest over a reasonable period of time. Under no
circumstances shall the authority create any debt, liability, or
obligation on the part of the State of California payable from any
source whatsoever other than the moneys provided under the provisions
of this division.