2010 California Code
Government Code
Chapter 7. Dissolution

67870.  The authority shall cease to exist when the board determines
that 80 percent of the territory of the military base that is
designated for development or reuse in the plan prepared pursuant to
this title has been developed or reused in a manner consistent with
the reuse plan, or in any case not later than June 30, 20 years after
the creation of the authority. The local agency formation commission
or commissions of the county or counties that are member agencies
shall provide for the orderly dissolution of the authority, including
ensuring that all contracts, agreements, and pledges to pay or repay
money entered into by the authority are honored and properly
administered, and that all assets of the authority are appropriately
transferred.