SECTIONS 31245-31246 - California Statutes

STREETS AND HIGHWAYS CODE

SECTION 31245-31246

31245. After all bonds issued pursuant to this chapter for the
construction of the toll tunnel have been fully redeemed and paid,
the authority shall either:
(a) Transfer the toll tunnel to the state for operation and
maintenance as a state highway by the department, either free of
tolls or at the rates of tolls adjusted so as to provide a fund of
not to exceed the amount necessary for the proper maintenance,
repair, and operation of the toll tunnel under economical management;
or
(b) Operate and maintain the toll tunnel itself, either free of
tolls or at rates of toll adjusted so as to provide a fund of not to
exceed the amount necessary for the proper maintenance, repair, and
operation of the toll tunnel under economical management.

31246. If the toll tunnel is transferred to the state pursuant to
subdivision (a) of Section 31245, the existence of the authority
shall thereupon automatically terminate, and all property, funds, and
records relating to the toll tunnel shall be transferred to the
state and thereafter the state shall be responsible for the
maintenance, repair, and operation of the toll tunnel, and for the
fulfillment of any outstanding contracts executed by the authority
and the payment of any outstanding debts or liabilities incurred by
the authority.