ARTICLE 5.7. Monterey Peninsula Water Supply Securitization Act [849. - 849.6.]

Article 5.7 added by Stats. 2014, Ch. 482, Sec. 6.

§§ 849–849.6 · 7 sections

• § 849 For purposes of this article, the following definitions shall apply: (a) “Ancillary agreement” means a bond insurance policy, letter of credit, reserve…
• § 849.1 (a) (1) The commission may issue financing orders in accordance with this article to facilitate the recovery, financing, or refinancing of water supply costs.…
• § 849.2 (a) A qualifying water utility for which a financing order has been issued shall cause the proceeds of any water rate relief bonds issued pursuant to a…
• § 849.3 (a) Financing entities may issue water rate relief bonds upon approval by the commission in the financing order. Water rate relief bonds shall be nonrecourse…
• § 849.4 (a) A security interest in water supply property is valid, is enforceable against the pledgor and third parties, is subject to the rights of any third party…
• § 849.5 (a) A sale, assignment, or transfer of water supply property by a qualifying water utility to an affiliate or to a financing entity, or by an affiliate of a…
• § 849.6 A successor to the qualified water utility, whether pursuant to bankruptcy, reorganization, or other insolvency proceeding, or pursuant to merger, sale, or…