BlackletterCalifornia law

DIVISION 16. CALIFORNIA ALTERNATIVE ENERGY AND ADVANCED TRANSPORTATION FINANCING AUTHORITY ACT [26000. - 26082.]

Heading of Division 16 amended by Stats. 1994, Ch. 1218, Sec. 2.

§§ 26000–26082 · 59 sections

  1. CHAPTER 1. California Alternative Energy and Advanced Transportation Financing Authority §§ 26000–26037 · 35 sections
    1. ARTICLE 1. General Provisions and Definitions §§ 26000–26003 · 5 sections
      • § 26000 This division shall be known, and may be cited, as the California Alternative Energy and Advanced Transportation Financing Authority Act.
      • § 26001 The Legislature hereby finds and declares both of the following: (a) It is essential that the state, in cooperation with the federal government, use all…
      • § 26002 It is the purpose of this division to advance the state’s goals of reducing the levels of greenhouse gas emissions, increasing the deployment of sustainable…
      • § 26002.5 This division is necessary for the welfare of the state and its inhabitants, and shall be liberally construed to effect its purposes.
      • § 26003 (a) As used in this division, unless the context otherwise requires: (1) (A) “Advanced manufacturing” means manufacturing processes that improve existing or…
    2. ARTICLE 2. Organization of Authority and General Powers and Duties Thereof §§ 26004–26017 · 12 sections
      • § 26004 (a) There is in the state government the California Alternative Energy and Advanced Transportation Financing Authority. The authority constitutes a public…
      • § 26005 All members of the authority shall serve thereon without compensation as members of the authority.
      • § 26006 The provisions of this division shall be administered by the authority which shall have and is hereby vested with all powers reasonably necessary to carry out…
      • § 26007 The authority shall maintain an office in the City of Sacramento.
      • § 26008 The authority may employ an executive director and any other persons as are necessary to enable it properly to perform the duties imposed upon it by this…
      • § 26009 The authority may adopt, amend, or repeal all rules and regulations necessary to carry out this division as emergency regulations in accordance with the…
      • § 26010 (a) The Attorney General shall be the legal counsel for the authority, but with the approval of the Attorney General, the authority may employ such legal…
      • § 26011 The authority is authorized and empowered: (a) To adopt an official seal. (b) To sue and be sued in its own name. (c) To issue bonds, notes, bond anticipation…
      • § 26011.8 (a) The purpose of this section is to promote the creation of California-based manufacturing, high-quality California-based jobs, advanced manufacturing, the…
      • § 26014 When the principal of and interest on bonds of the authority issued to finance or refund the cost of a particular project for a participating party shall have…
      • § 26015 (a) The authority, or the executive director of the authority, if authorized to do so by resolution of the authority, shall take official action towards the…
      • § 26017 The authority, no later than March 31 of each year, shall submit to the Legislature a report of its activities for the preceding calendar year ending December…
    3. ARTICLE 3. Bonds and Notes §§ 26022–26025 · 4 sections
      • § 26022 (a) The authority is authorized from time to time to issue its negotiable bonds, notes, debentures, or other securities (hereinafter collectively called…
      • § 26023 In the discretion of the authority, any bonds issued under the provisions of this division may be secured by a trust agreement by and between the authority and…
      • § 26024 Bonds issued under the provisions of this division shall not be deemed to constitute a debt or liability of the state or of any political subdivision thereof,…
      • § 26025 (a) The authority is hereby authorized to provide for the issuance of bonds of the authority for the purpose of refunding, directly or indirectly, any bonds,…
    4. ARTICLE 3.5. Supplemental Bond Provisions §§ 26029–26029.8 · 5 sections
      • § 26029 The authority shall not be required to pay any property taxes or assessments upon, or in respect to, a project or any property acquired by or for the authority…
      • § 26029.4 Subject to Section 26029.6, the existence of the authority may be terminated at any time by the Legislature. Upon dissolution of the authority, the title to…
      • § 26029.5 This division shall be deemed to provide a complete, additional, and alternative method for the doing of the things authorized thereby, and shall be regarded…
      • § 26029.6 The State of California does hereby pledge to and agree with the holders of any obligations issued under this division, and with those parties who may enter…
      • § 26029.8 The powers granted to the authority by this division may be exercised without regard or reference to any department or agency of the state. All other general…
    5. ARTICLE 4. Construction and Leases of Facilities §§ 26030–26037 · 9 sections
      • § 26030 The authority may contract with any participating party for the construction or acquisition of a project by such participating party. All such contracts for…
      • § 26031 (a) The authority may, as lessor or lessee, enter into leases and agreements with any participating party relating to the acquisition, construction, and…
      • § 26032 The authority may enter into contracts of sale with any participating party covering any project financed by the authority. The purchase price pursuant to the…
      • § 26032.5 As an alternative to leasing or selling a project to a participating party, the authority may finance the acquisition, construction, or installation of a…
      • § 26033 All moneys received pursuant to the provisions of this division, whether as proceeds from the sale of bonds, notes, or other evidences of indebtedness or as…
      • § 26034 Any holder of bonds, notes, or other obligations issued under the provisions of this division, and the trustee or trustees under any trust agreement, except to…
      • § 26035 The exercise of the powers granted by this division shall be in all respects for the benefit of the people of this state, for their health and welfare, and…
      • § 26036 If the jurisdiction of the authority to order a proposed act is not affected, an omission of any officer or the authority in the proceedings under this…
      • § 26037 An action may be brought pursuant to Chapter 9 (commencing with Section 860) of Title 10 of Part 2 of the Code of Civil Procedure to determine the validity of…
  2. CHAPTER 2. Additional Powers and Duties § 26040 · 1 section
    • § 26040 (a) The authority may receive and utilize grants or loans from the federal government, a public agency, or any other source for carrying out the purposes of…
  3. CHAPTER 3. General Fund Revenue Loss §§ 26042–26042.4 · 3 sections
    • § 26042 It is the intent of the Legislature that any loss of revenue to the General Fund occasioned by the purchase of bonds issued by the authority shall be restored…
    • § 26042.2 On May 10, 1982, and on each May 10 thereafter, the authority shall make a determination of an amount equal to one-half of 1 percent of the total of all…
    • § 26042.4 On May 15, 1982, and on each May 15 thereafter, the Controller shall transfer to the General Fund the amount determined by the authority pursuant to Section…
  4. CHAPTER 4. Property Assessed Clean Energy (PACE) and Clean Energy Financing Program §§ 26050–26082 · 20 sections
    1. ARTICLE 1. General Provisions and Definitions §§ 26050–26056 · 8 sections
      • § 26050 (a) The Legislature finds and declares all of the following: (1) Property Assessed Clean Energy (PACE) financing has been pioneered by municipalities and…
      • § 26050.5 The Legislature further finds and declares both of the following: (a) Actions by federally chartered home loan entities have frustrated efforts to accelerate…
      • § 26051 Unless the context otherwise requires, the definitions in this article govern the construction of this chapter.
      • § 26052 “Applicant” means, for the purposes of Article 2 (commencing with Section 26060), a public agency as defined in paragraph (3) of subdivision (c) of Section…
      • § 26053 “Clean Energy Upgrade Program” means a statewide energy and water efficiency and renewable energy generation building retrofit financing program developed by…
      • § 26054 “Property Assessed Clean Energy bond” or “PACE bond” means a bond that is secured by any of the following: (a) A voluntary contractual assessment on property…
      • § 26055 “PACE program” means a program established by an applicant that is financed by the PACE bond or a PACE assessment regardless of funding sources.
      • § 26056 This chapter does not create any liability or obligation upon the State of California and none shall be incurred by the authority beyond the extent to which…
    2. ARTICLE 2. PACE Reserve Program §§ 26060–26064 · 5 sections
      • § 26060 (a) The authority shall develop and administer a PACE Reserve program to reduce overall costs to the property owners of PACE bonds issued by an applicant by…
      • § 26061 To qualify for assistance pursuant to this chapter, the PACE program shall require all of the following: (a) The interest rate on the PACE bond does not exceed…
      • § 26062 An applicant shall submit to the authority an application providing a detailed description of the PACE program, a detailed description of the transactional…
      • § 26063 (a) In evaluating eligibility, the authority shall consider whether the applicant’s PACE program includes the following conditions: (1) Financing recipients…
      • § 26064 The authority shall review the applicant’s PACE bond issuance, including, but not limited to, indenture, trust agreement, and fiscal agent agreement (“the bond…
    3. ARTICLE 3. Clean Energy Upgrade Program §§ 26070–26074 · 5 sections
      • § 26070 The authority shall administer a Clean Energy Upgrade Program to reduce overall costs to the property owners of a loan provided by an applicant to finance the…
      • § 26071 (a) The authority shall adopt regulations governing the implementation of this chapter, including quality assurance pursuant to subdivision (b) of Section…
      • § 26072 (a) An applicant shall submit to the authority an application providing a detailed description of the loan program to finance the installation of distributed…
      • § 26073 (a) In evaluating eligibility, the authority shall consider whether the applicant’s loan program includes the following conditions: (1) Loan recipients are…
      • § 26074 (a) The authority shall require certification from a loan applicant that each loan offered pursuant to the applicant’s loan program is consistent with the…
    4. ARTICLE 4. Appropriation and Reporting §§ 26080–26082 · 2 sections
      • § 26080 (a) Until January 1, 2015, an amount of up to fifty million dollars ($50,000,000) from the Renewable Resource Trust Fund, established pursuant to Section…
      • § 26082 (a) Notwithstanding Section 26080, twenty-five million dollars ($25,000,000) of the unencumbered balance of the fifty million dollars ($50,000,000) that was…