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DIVISION 7. WATER QUALITY 13000-16104›CHAPTER 6. State Financial Assistance 13400-13443›ARTICLE 2. Loans to Local Agencies 13410-13418

§ 13412

California Water Code · 2018-11 edition · updated 2026-10-04 · California

No loan shall be made to a public agency unless it executes an agreement with the state board under which it agrees to repay the amount of the loan, with interest, within 25 years at 50 percent of the average interest rate paid by the state on general obligation bonds sold in the calendar year immediately preceding the year in which the loan agreement is executed.

(Amended by Stats. 1986, Ch. 978, Sec. 1.)

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California Water Code

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