California Statutes
§ 13867. — 13867. (Added by Stats. 1975, Ch. 1008.)
California·Code WAT Water Code - WAT·Div. 7. DIVISION 7. WATER QUALITY·Ch. 10.5. CHAPTER 10.5. California Safe Drinking Water Bond Law of 1976
The department shall require the payment of interest on each loan that is made pursuant to the provisions of this chapter at a rate equal to the average, as determined by the State Treasurer, of the net interest cost to the state on the sales of general obligation bonds pursuant to the provisions of this chapter. However, when the applicable average of the net interest costs to the state is not a multiple of one-tenth of 1 percent the interest rate shall be at the multiple of one-tenth of 1 percent next above the applicable average of the net interest costs.
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California § 13867. (13867. (Added by Stats. 1975, Ch. 1008.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Added by Stats. 1975, Ch. 1008. Approved in Proposition 3 at the June 8, 1976, election.