13425. Applications for guarantees for local agency bonds under this chapter shall include: (a) A description of the proposed facilities. (b) A financing plan for the proposed facilities, including the amount of debt and maximum term to maturity of the proposed local agency bond issue and identification of sources of revenue that will be dedicated to payment […]
13426. The state board, subject to approval by the Director of Finance, may agree to provide a guarantee pursuant to this article for all or a specified part of the proposed local agency bond issue upon making all of the following determinations: (a) The facilities proposed by an applicant are necessary to the health or welfare […]
13427. No guarantee shall be extended to any applicant unless it executes an agreement with the state board under which the applicant agrees to the following provisions: (a) To proceed expeditiously with, and complete, the proposed project. (b) To commence operation of the project on completion, and to properly operate and maintain the work in accordance with […]
13428. Notwithstanding Section 13340 of the Government Code, the money in the Clean Water Bond Guarantee Fund, which is hereby created, is continuously appropriated to the state board without regard to fiscal years for the purposes of this chapter. (Added by Stats. 1988, Ch. 47, Sec. 1. Effective March 18, 1988.)
13429. Money in the Clean Water Bond Guarantee Fund not needed for making payments on guaranteed bonds pursuant to this chapter shall be invested pursuant to law. All proceeds of the investment shall be deposited in that fund to the extent permitted by federal law. (Added by Stats. 1988, Ch. 47, Sec. 1. Effective March […]
13430. The state board’s authorization to guarantee bonds under this article shall be limited to bonds with a total principal amount of not more than 10 times the amount in the Clean Water Bond Guarantee Fund at the time the state board determines to extend each guarantee pursuant to Section 13426. (Added by Stats. 1988, […]
13431. Under no circumstances shall the amount paid out as a result of bond guarantees extended pursuant to this article exceed the amount in the Clean Water Bond Guarantee Fund. This article does not express or imply any commitment by the state board or any other agency of the state to pay any money or […]
13432. The state board may charge an annual fee not to exceed one-tenth of 1 percent of the principal amount of each bond issue that it guarantees for guarantee coverage. The state board may charge a lesser amount. The proceeds of any fee shall be paid into the Clean Water Bond Guarantee Fund. (Added by […]
13433. The state board shall, by regulation, prescribe rules and procedures for all of the following: (a) To pay money from the Clean Water Bond Guarantee Fund to an insured local agency or bondholder in the event that the amount in the local agency’s bond reserve fund falls below a minimum amount, or in the event […]
