California § 79149.10. 79149.10. (Added by Stats. 1999, Ch. 725, Sec. 1.)

California Statutes

§ 79149.10. — 79149.10. (Added by Stats. 1999, Ch. 725, Sec. 1.)

California § 79149.10.

JurisdictionCalifornia

Code WATWater Code - WAT

Div. 26.DIVISION 26. SAFE DRINKING WATER, CLEAN WATER, WATERSHED PROTECTION, AND FLOOD PROTECTION ACT

Ch. 7.CHAPTER 7. Clean Water and Water Recycling Program

Art. 6.ARTICLE 6. Seawater Intrusion Control

This text of California § 79149.10. (79149.10. (Added by Stats. 1999, Ch. 725, Sec. 1.)) is published on Counsel Stack Legal Research, covering California primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Cal. Water Code - WAT Code § 79149.10. (2026).

Text

(a)The board shall establish the interest rate for a loan made pursuant to this article at a rate equal to 50 percent of the interest rate paid by the state on the most recent sale of state general obligation bonds, to be computed according to the true interest cost method.

(b)If the interest rate so determined is not a multiple of one-tenth of 1 percent, the interest rate shall be set at the next higher multiple of one-tenth of 1 percent.

(c)The interest rate set for each contract shall be applied throughout the repayment period of the contract. There shall be a level annual repayment of principal and interest on the loans.

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(a)
The board shall establish the interest rate for a loan made pursuant to this article at a rate equal to 50 percent of the interest rate paid by the state on the most recent sale of state general obligation bonds, to be computed according to the true interest cost method.
(b)
If the interest rate so determined is not a multiple of one-tenth of 1 percent, the interest rate shall be set at the next higher
multiple of one-tenth of 1 percent.
(c)
The interest rate set for each contract shall be applied throughout the repayment period of the contract. There shall be a level annual repayment of principal and interest on the loans.