The state board may charge an annual fee not to exceed one-tenth of 1 percent of the principal amount of each bond issue that it guarantees for guarantee coverage. The state board may charge a lesser amount. The proceeds of any fee shall be paid into the Clean Water Bond Guarantee Fund.
Cal. Water Code § 13432
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.