63048.100. (a) Notwithstanding Chapter 2 (commencing with Section 12850) of Part 2.5 of Division 3 of Title 2 and Article 2 (commencing with Section 13320) of Chapter 3 of Part 3 of Division 3 of Title 2, expenditures of the Climate Catalyst Revolving Loan Fund shall not be subject to the supervision or approval of any […]
63048.91. (a) This chapter shall be known, and may be cited, as the Climate Catalyst Revolving Loan Fund Act of 2020. (b) Notwithstanding any other provision of this division, this article does not apply to any other activities, powers, and duties of the Infrastructure and Economic Development Bank under this division. (c) The bank shall administer the Climate […]
63048.92. The definitions contained in this section are in addition to the definitions contained in Section 63010 and together with the definitions contained in that section shall govern the construction of this article, unless the context requires otherwise: (a) “Bank” means the Infrastructure and Economic Development Bank. (b) “Climate catalyst project” means any building, structure, equipment, infrastructure, […]
63048.93. (a) The bank is hereby authorized and empowered to provide financial assistance under the Climate Catalyst Revolving Loan Fund Program to any eligible sponsor or participating party either directly or to a lending or financial institution, in connection with the financing or refinancing of a climate catalyst project, in accordance with an agreement or agreements, […]
63048.94. (a) Annually, commencing January 1, 2023, and no later than January 1 of each year thereafter, the bank shall prepare and submit, as specified in subdivision (b), a report containing Climate Catalyst Revolving Loan Fund Program activity for the preceding fiscal year ending June 30, and including all of the following: (1) Information on individual Climate […]
63048.95. (a) (1) There is hereby created in the State Treasury the Climate Catalyst Revolving Loan Fund for the purpose of implementing the objectives and provisions of this article. The Climate Catalyst Revolving Loan Fund shall be separate from any other fund or account created under this division. (2) Obligations of the bank incurred in connection with the […]
63048.96. (a) (1) The bank may pledge any or all of the moneys in the Climate Catalyst Revolving Loan Fund as security for payment of the principal of, and interest on, any particular issuance of bonds issued for the purposes of this article. The bank may use any or all of the moneys in the Climate Catalyst […]
63048.97. (a) The bank may administer and distribute among the accounts and subaccounts created under this article, at its discretion, the proceeds from any general obligation bonds issued in accordance with the State General Obligation Bond Law (Chapter 4 (commencing with Section 16720) of Part 3 of Division 4 of Title 2). (b) The assets of the […]
63048.98. All costs, liabilities, obligations, and expenses incurred in carrying out the purposes of this article shall be payable solely from funds provided for the purposes of this article, and no liability, cost, expense, or obligation shall be imposed upon the state or the bank beyond the extent to which money shall have been provided […]
63048.99. (a) Moneys in the Climate Catalyst Revolving Loan Fund received from the proceeds of bonds issued pursuant to this division may not be transferred to any other fund except as necessary to pay the expenses of operating the Climate Catalyst Revolving Loan Fund Program. (b) The bank, for deposit in the Climate Catalyst Revolving Loan Fund […]
