CHAPTER 5.5. Local Agency Bond Payments

Chapter 5.5 added by Stats. 1967, Ch. 1610.

§§ 12894–12894.8 · 9 sections

• § 12894 The department may, when specifically authorized by law to do so, enter into a commitment, without regard to fiscal years, with any public agency, as defined…
• § 12894.1 Notwithstanding any provision of law to the contrary, every public agency empowered by law to contract with the state for a water supply is hereby granted, in…
• § 12894.2 The Department of Water Resources shall notify all public agencies which have contracted for water from the State Water Resources Development System of its…
• § 12894.3 If the department determines that a loan commitment pursuant to Section 12894 will not enable any eligible public agency specified in Section 1 of Chapter 842…
• § 12894.4 A loan pursuant to Section 12894.3 shall not exceed 25 percent of the total cost of the project, or two million five hundred thousand dollars ($2,500,000),…
• § 12894.5 Annual payments on the loan, including both principal repayment and interest, shall be in substantially equal amounts over the term of the loan, excluding the…
• § 12894.6 In making loans pursuant to Section 12894.3, the department shall impose such terms and conditions as are necessary to protect the state’s investment and carry…
• § 12894.7 The department shall require the payment of interest on each loan that is made pursuant to Section 12894.3 at a rate equal to the weighted average of the…
• § 12894.8 Prior approval by the voters of an eligible district of a project described in Section 12894.3 and bonds therefor shall constitute approval of a loan pursuant…