DIVISION 14.5. Blue Ribbon Committee for the Rehabilitation of Clear Lake 22085-22092›CHAPTER 3. General Fund Revenue Loss 26042-26042.4›ARTICLE 2. PACE Reserve Program 26060-26064

§ 26060

California Public Resources Code · 2026-09 edition · updated 2026-09-27 · California

(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 providing a reserve of no more than 10 percent of the initial principal amount of the PACE bond.

(b) The authority shall develop and administer a PACE risk mitigation program for PACE financing to increase its acceptance in the marketplace and protect against the risk of default and foreclosure.

(Amended by Stats. 2014, Ch. 614, Sec. 4. (AB 2597) Effective January 1, 2015.)

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California Public Resources Code

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