Any contract for a grant or loan entered into pursuant to this chapter shall include, but not be limited to, all of the following provisions:
(a) An estimate of the reasonable cost of the project or program.
(b) An agreement by the borrower or grantee to proceed expeditiously with, and complete, the project or program; to commence operation of any project upon completion and to properly operate and maintain the project in accordance with applicable provisions of law; to provide for the payment of the agency’s share of the cost of the project or program, including the principal of, and the interest on, any state loan made pursuant to this chapter; and if appropriate, to apply for, and make reasonable efforts to secure, federal assistance for the project or program.
(Added by Stats. 1989, Ch. 715, Sec. 1.)
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