California Public Resources Code

§ 25417.5

PRC § 25417.5 Effective Jan 1, 2017Div. 15 · Ch. 5.2

Statute text

(a)In furtherance of the purposes of the commission as set forth in this chapter, the commission has the power and authority to do all of the following:

(1)Borrow money, for the purpose of obtaining funds to make loans pursuant to this chapter, from the California Economic Development Financing Authority, the California Infrastructure and Economic Development Bank, and the California Consumer Power and Conservation Financing Authority from the proceeds of revenue bonds issued by any of those agencies.

(2)Pledge collateral to secure the repayment of moneys borrowed pursuant to paragraph (1) or of bonds or other borrowings by the California Infrastructure and Economic Development Bank. The commission may pledge, as collateral for these purposes, the loans made pursuant to this chapter or former Chapter 5.4 (commencing with Section 25440) or the principal and interest payments on loans made pursuant to this chapter or former Chapter 5.4 (commencing with Section 25440). These pledges shall be subject to Chapter 5.5 (commencing with Section 5450) of Division 6 of Title 1 of the Government Code.

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Legislative history

Amended by Stats. 2016, Ch. 675, Sec. 1. (SB 1207) Effective January 1, 2017. Repealed as of January 1, 2028, pursuant to Section 25421.