Section 79149.2.
79149.2. (a) There is hereby created in the account the Seawater Intrusion Control Subaccount. The sum of twenty-five million dollars ($25,000,000) is hereby transferred from the account to the subaccount for the purposes of implementing this article. (b) Notwithstanding Section 13340 of the Government Code, the money in the subaccount is hereby continuously appropriated, without regard to […]
Section 79149.3.
79149.3. Unallocated funds remaining in the Seawater Intrusion Control Subaccount in the Clean Water and Water Recycling Account in the Safe, Clean, Reliable Water Supply Fund on March 8, 2000, and any funds deposited into that subaccount after that date, shall be transferred to, and all money repaid to the state pursuant to any loan […]
Section 79149.4.
79149.4. The board may enter into contracts to make loans to local agencies for the purposes set forth in this article. (Added by Stats. 1999, Ch. 725, Sec. 1. Approved in Proposition 13 at the March 7, 2000, election.)
Section 79149.6.
79149.6. Any contract for a loan entered into pursuant to Section 79149.4 may include those provisions determined by the board to be necessary for the purposes of this article and shall include both of the following provisions: (a) An estimate of the reasonable cost of the eligible seawater intrusion control project. (b) An agreement by the local […]
Section 79149.8.
79149.8. (a) A contract for a loan may not provide for a moratorium on the payment of the principal of, or interest on, the loan. (b) Any loan made pursuant to Section 79149.4 shall be for a period not to exceed 20 years. (c) The board may enter into a contract for a loan amount that equals up […]
Section 79149.10.
79149.10. (a) The board shall establish the interest rate for a loan made pursuant to this article at a rate equal to 50 percent of the interest rate paid by the state on the most recent sale of state general obligation bonds, to be computed according to the true interest cost method. (b) If the interest rate […]
Section 79149.12.
79149.12. All principal and interest payments received pursuant to loan contracts entered into pursuant to this article shall be deposited in the subaccount. (Added by Stats. 1999, Ch. 725, Sec. 1. Approved in Proposition 13 at the March 7, 2000, election.)
Section 79149.14.
79149.14. The board may, by contract or otherwise, undertake plans, surveys, research, development, and studies necessary, convenient, or desirable to carry out the purposes of this article. (Added by Stats. 1999, Ch. 725, Sec. 1. Approved in Proposition 13 at the March 7, 2000, election.)
Section 79149.16.
79149.16. Not more than 3 percent of the total amount deposited in the subaccount may be used to pay for both of the following: (a) To pay the costs incurred in connection with the administration of this article. (b) For the purposes of Section 79149.14. (Added by Stats. 1999, Ch. 725, Sec. 1. Approved in Proposition 13 […]
Section 79149.
79149. Unless the context otherwise requires, the following definitions govern the construction of this article: (a) (1) “Eligible seawater intrusion control project” means a project that meets all of the following requirements: (A) The project is necessary to protect groundwater and meets both of the following requirements: (i) The project is within a basin that is subject to a […]