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Part 2. Calconserve Water Use Efficiency Revolving Fund of California Water Code >> Division 30. >> Part 2.
The CalConserve Water Use Efficiency Revolving Fund is
hereby created in the State Treasury. Moneys in the fund are
available, upon appropriation by the Legislature, to the department
for expenditure in accordance with this division. The department is
the state agency responsible for administering the fund.
The proceeds of any bonds authorized to be issued and
available for the purposes of Section 79157 shall be transferred to
the fund and used by the department for loans and grants to local
agencies to acquire and construct agricultural water conservation
projects consistent with Article 3 (commencing with Section 79157) of
Chapter 8 of Division 26.
Consistent with Division 26.7 (commencing with Section
79700), the sum of ten million dollars ($10,000,000) of the proceeds
of bonds authorized to be issued and available for the purposes of
Section 79746 shall be transferred to the fund and used by the
department, upon appropriation, for loans for the following water
conservation and water use efficiency projects and programs to
achieve urban water use targets developed pursuant to Section
10608.20:
(a) (1) Five million dollars ($5,000,000) for a pilot project for local agencies to provide water efficiency upgrades to eligible residents at no upfront cost.
(2) Five million dollars ($5,000,000) for local agencies to provide low-interest loans to customers to finance the installation of onsite improvements to repair or replace, as necessary, cracked or leaking water pipes to conserve water.
(b) The department may implement this section by providing to a local agency a zero-interest loan of up to three million dollars ($3,000,000).
(c) A local agency that receives a loan pursuant to this section shall exercise reasonable efforts to recover the costs of the loan. However, the department may waive up to 10 percent of the repayment amount for costs that could not be recovered by the local agency.
(d) The department and a local agency that is an urban retail water supplier and that receives a loan pursuant to this section may enter into a mutually agreeable schedule for making loan repayments into the CalConserve Water Use Efficiency Revolving Fund.
(a) (1) Five million dollars ($5,000,000) for a pilot project for local agencies to provide water efficiency upgrades to eligible residents at no upfront cost.
(2) Five million dollars ($5,000,000) for local agencies to provide low-interest loans to customers to finance the installation of onsite improvements to repair or replace, as necessary, cracked or leaking water pipes to conserve water.
(b) The department may implement this section by providing to a local agency a zero-interest loan of up to three million dollars ($3,000,000).
(c) A local agency that receives a loan pursuant to this section shall exercise reasonable efforts to recover the costs of the loan. However, the department may waive up to 10 percent of the repayment amount for costs that could not be recovered by the local agency.
(d) The department and a local agency that is an urban retail water supplier and that receives a loan pursuant to this section may enter into a mutually agreeable schedule for making loan repayments into the CalConserve Water Use Efficiency Revolving Fund.
The department may undertake any of the following:
(a) Provide for the deposit of any available and necessary moneys into the fund.
(b) Enter into agreements with local agencies that provide water or recycled water service to provide loans for the purposes described in subdivision (b) of Section 81000.
(c) Provide for appropriate audit, accounting, and fiscal management services, plans, and reports relative to the fund.
(d) Take additional incidental action as appropriate for the adequate administration and operation of the fund.
(e) Make requests on behalf of the state for deposit into the fund of available federal moneys.
(f) Enter into agreements with the federal government for federal contributions to the fund.
(g) Accept federal contributions to the fund.
(h) Provide technical assistance to local agencies.
(a) Provide for the deposit of any available and necessary moneys into the fund.
(b) Enter into agreements with local agencies that provide water or recycled water service to provide loans for the purposes described in subdivision (b) of Section 81000.
(c) Provide for appropriate audit, accounting, and fiscal management services, plans, and reports relative to the fund.
(d) Take additional incidental action as appropriate for the adequate administration and operation of the fund.
(e) Make requests on behalf of the state for deposit into the fund of available federal moneys.
(f) Enter into agreements with the federal government for federal contributions to the fund.
(g) Accept federal contributions to the fund.
(h) Provide technical assistance to local agencies.
(a) The department may enter into an agreement with the
federal government for federal contributions to the fund only if both
of the following conditions are met:
(1) The state identifies any required matching funds.
(2) The department is prepared to commit to the expenditure of any minimum amount in the fund in the manner required by the federal government.
(b) Any agreement between the department and the federal government shall contain those provisions, terms, and conditions required by the federal government and any implementing federal rules, regulations, guidelines, and policies, including, but not limited to, agreement to expend moneys in the fund in an expeditious and timely manner.
(1) The state identifies any required matching funds.
(2) The department is prepared to commit to the expenditure of any minimum amount in the fund in the manner required by the federal government.
(b) Any agreement between the department and the federal government shall contain those provisions, terms, and conditions required by the federal government and any implementing federal rules, regulations, guidelines, and policies, including, but not limited to, agreement to expend moneys in the fund in an expeditious and timely manner.
Moneys in the fund shall be used for the following purposes:
(a) Loans to local agencies that meet all of the following requirements:
(1) Are made at or below market interest rates.
(2) Require annual payments of principal and any interest, with repayment commencing not later than one year after loan funding and full amortization not later than 20 years after loan funding. Full amortization for loans to disadvantaged communities shall be not later than 25 years after loan funding.
(3) Require the loan recipient to establish an acceptable dedicated source of revenue for repayment of a loan.
(b) To guarantee, or purchase insurance for, local obligations if that action would improve credit market access or reduce interest rates.
(c) As a source of revenue or security for the payment of principal and interest on revenue or general obligation bonds issued by the state, if the proceeds of the sale of those bonds will be deposited in the fund.
(d) To earn interest.
(e) Technical assistance.
(f) For payment of the department's reasonable costs of administering the fund, not to exceed 4 percent of the fund.
(g) Grants, principal forgiveness, negative interest rates, and any other type of, or variation on, the types of assistance described in this section that is authorized by a federal capitalization grant deposited in the fund to the extent authorized and funded by that federal capitalization grant.
(a) Loans to local agencies that meet all of the following requirements:
(1) Are made at or below market interest rates.
(2) Require annual payments of principal and any interest, with repayment commencing not later than one year after loan funding and full amortization not later than 20 years after loan funding. Full amortization for loans to disadvantaged communities shall be not later than 25 years after loan funding.
(3) Require the loan recipient to establish an acceptable dedicated source of revenue for repayment of a loan.
(b) To guarantee, or purchase insurance for, local obligations if that action would improve credit market access or reduce interest rates.
(c) As a source of revenue or security for the payment of principal and interest on revenue or general obligation bonds issued by the state, if the proceeds of the sale of those bonds will be deposited in the fund.
(d) To earn interest.
(e) Technical assistance.
(f) For payment of the department's reasonable costs of administering the fund, not to exceed 4 percent of the fund.
(g) Grants, principal forgiveness, negative interest rates, and any other type of, or variation on, the types of assistance described in this section that is authorized by a federal capitalization grant deposited in the fund to the extent authorized and funded by that federal capitalization grant.
Funds made available pursuant to this division to a local
agency shall not be used for that local agency's administrative
costs.
Any repayment of fund moneys, including interest payments,
and all interest earned on, or accruing to, any moneys in the fund,
shall be deposited in the fund and shall be available for expenditure
for the purposes and uses authorized by this division.
