SECTIONS 3940-3942 - California Statutes

HARBORS AND NAVIGATION CODE

SECTION 3940-3942

3940. Whenever the authority determines by resolution that it is
necessary or desirable to obtain funds through the sale of bonds as
provided for in this part to provide for the improvement of San
Francisco Harbor and its facilities, including wharves, piers,
seawalls, railroads, spurs, streets, and appurtenances to any of the
foregoing, and personal or real property used in connection
therewith, and any necessary dredging and filling in connection
therewith by the authority, and to redeem bonds authorized prior to
the enactment of this part and outstanding, the authority shall so
certify to the committee. Funds so secured shall not exceed, in the
aggregate, fifty million dollars ($50,000,000).

3941. The authority may make improvements or purchases specified in
Section 3940 and expend from the Fifth San Francisco Seawall Fund,
in the manner authorized by law, any and all funds therein, derived
from the sale of bonds as provided in this part.

3942. The authority shall make payments from the San Francisco
Harbor Improvement Fund to the Harbor Bond Sinking Fund as required
under Section 3918.