Section 30959 Of Chapter 4.3. Metropolitan Transportation Commission From California Streets And Highways Code >> Division 17. >> Chapter 4.3.
30959
. The authority may make direct contributions to the
commission in furtherance of the exercise of the authority's powers
under this division, including contributions in the form of personnel
services, office space, overhead, and other funding necessary to
carry out the function of the authority, with those contributions not
to exceed 1 percent of the gross annual bridge revenues. The
authority may also make additional contributions in the form of loans
to the commission on a reimbursement-for-cost basis; provided that
those loans do not, independent of the direct contributions, exceed 1
percent of the gross annual bridge revenues and are fully repaid
with interest at the same interest rate that would apply for toll
bridge revenue bonds of the same duration as any loan taken by the
commission. As used in this section, "gross annual bridge revenues"
shall have the same meaning as in Section 30958.