Statute · California Water Code
Cal. Water Code § 13897.3 — California Safe Drinking Water Bond Law of 1986
Cal. Water Code § 13897.3
- Type
- Statute
- Source
- California Water Code
- Jurisdiction
- California
- Current through
- Nov 2, 2026 (California Legislative Counsel)
The department shall annually establish the interest rate for loans made pursuant to this chapter at 50 percent of the average interest rate, computed by the true interest cost method, paid by the state on general obligation bonds for the prior calendar year. All loans made pursuant to this…
Citator
Cal. Water Code § 13897.3 — California Safe Drinking Water Bond Law of 1986 is in force in the current edition of the Code, and nothing recorded condemns it.
The department shall annually establish the interest rate for loans made pursuant to this chapter at 50 percent of the average interest rate, computed by the true interest cost method, paid by the state on general obligation bonds for the prior calendar year. All loans made pursuant to this chapter shall carry the established interest rate for the calendar year in which the funds are committed to the loan, as of the date of the letter of commitment from the department, and shall remain at that interest rate for the duration of the loan.