ARTICLE 5. Recreational Marinas [76. - 77.1.]

Article 5 added by Stats. 1985, Ch. 1307, Sec. 2.

§§ 76–77.1 · 11 sections

• § 76 It is the intent of the Legislature that Harbors and Watercraft Revolving Fund moneys be used to implement the intent of Section 71.5 by providing loans…
• § 76.1 “Private marina owner” means a profit-oriented business enterprise which owns and operates, or intends to develop and operate, a small boat recreational…
• § 76.2 “Recreational marina” means a marina owned by a private marina owner which is used by the public primarily for recreational purposes.
• § 76.3 (a) The department may make loans to private marina owners to develop a recreational marina. Loan funds from the department may be utilized for both of the…
• § 76.4 (a) An application for a loan under Section 76.3 shall be filed with the department and shall: (1) Include a feasibility study containing sufficient…
• § 76.5 In processing applications under this article, the division shall give priority to applications from qualified private marina owners who have not received…
• § 76.6 Loans made under this article shall include, but are not limited to, the following terms and conditions: (a) The minimum annual rate of interest charged by the…
• § 76.7 (a) All loans made by the department to private marina owners shall be funded from the Harbors and Watercraft Revolving Fund. (b) All loans, including those…
• § 76.8 The department shall adopt regulations to implement or make this article more specific, including standards for the approval of loans, which shall include, but…
• § 77 (a) The department, subject to the approval of the Director of Finance, may borrow funds from the Harbors and Watercraft Revolving Fund when a borrower has…
• § 77.1 The department, upon whatever terms and conditions it deems proper, may sell or otherwise dispose of property serving as collateral for a defaulted loan made…