Under no circumstances shall the amount paid out as a result of bond guarantees extended pursuant to this article exceed the amount in the Clean Water Bond Guarantee Fund. This article does not express or imply any commitment by the state board or any other agency of the state to pay any money or levy any charge or tax or otherwise exercise its faith and credit on behalf of any local agency or bondholder beyond the funds in the Clean Water Bond Guarantee Fund.
Cal. Water Code § 13431
Guarantees for Local Agency Bonds
Known as the Porter-Cologne Water Quality Control Act
The act spans §§ 13000–16201 (413 sections).
Added by Stats. 1988, Ch. 47, Sec. 1
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.