California Code of Regulations › Title 4 - Business Regulations › Division 11 - California Pollution Control Financing Authority › Article 12 - Rate Reduction Bonds › Section 8131 - Definitions

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
The following definitions shall govern construction of this
				  Article 12.
(a) "Application" means an
				application submitted by an Issuer Applicant to the Authority for review of its
				proposed Rate Reduction Bonds issuance.
(b) "Authority" means the California
				Pollution Control Financing Authority.
(c) "Conservation or Reclamation Purposes" is
				defined in Section
				6585(d)
				of the Government Code.
(d)
				"Financing Costs" is defined in Section
				6585(g)
				of the Government Code.
(e) "Issuer
				Applicant" means an entity created pursuant to Article 1, Chapter 5, Division
				7, Title 1 of the Government Code (commencing with Section
				6500) whose financing activities
				are limited to financing or refinancing. Utility Projects and projects for the
				use or benefit of public water or wastewater agencies and which applies to the
				Authority for review and approval of an issuance of Rate Reduction
				Bonds.
(f) "Legislative Body" is
				defined in Section
				6585(i)
				of the Government Code.
(g) "Local
				Agency" is defined in Section
				6585(j)
				of the Government Code.
(h) "Local
				Agency Applicant" means a Local Agency that owns and operates a Publicly Owned
				Utility and which applies to an Issuer Applicant to finance or refinance costs
				of a Utility Project for the Publicly Owned Utility with the proceeds of Rate
				Reduction Bonds and whose senior lien unenhanced revenue bonds payable from
				revenues of the Publicly Owned Utility are, or upon issuance would be, rated
				not lower than Baa3 by Moody's Investors Service, BBB- by Standard & Poor's
				Ratings Services, or BBB- by Fitch Ratings, Inc.
(i) "Mandate" is defined in Section
				6585(k)
				of the Government Code.
(j)
				"Mandating Entity" is defined in Section
				6585 (
l
) of the
				Government Code.
(k) "Publicly
				Owned Utility" is defined in Section
				6585(o)
				of the Government Code.
(l) "Rate
				Reduction Bonds" mean bonds that are issued by an Issuer Applicant, the
				proceeds of which are used directly or indirectly to pay or reimburse a Local
				Agency or its Publicly Owned Utility for the payment of the costs of a Utility
				Project, to refund rate reduction bonds, or to refinance water or wastewater
				revenue bonds of a Local Agency or Publicly Owned Utility issued to finance a
				Utility Project, (6585(p)) and that are secured by a pledge of, and are payable
				from, Utility Project Property as provided in Government Code Section
				6588.7.
(m) "Utility Project" is defined in Section
				6585(r)
				of the Government Code.
(n)
				"Utility Project Charge" is defined in Section
				6585(s)
				of the Government Code.
(o)
				"Utility Project Property" is defined in Section
				6585(t)
				of the Government Code.
1. New section
				  filed 11-10-2014 as an emergency; operative 11-10-2014 (Register 2014, No. 46).
				  A Certificate of Compliance must be transmitted to OAL by 5-11-2015 or
				  emergency language will be repealed by operation of law on the following
				  day.
2. Repealed by operation of Government Code section
				  11346.1(g)
				  (Register 2015, No. 20).
3. New section refiled 5-19-2015 as an
				  emergency; operative 5-19-2015 (Register 2015, No. 21). A Certificate of
				  Compliance must be transmitted to OAL by 8-17-2015 or emergency language will
				  be repealed by operation of law on the following day.
4. Certificate
				  of Compliance as to 5-19-2015 order transmitted to OAL 7-28-2015 and filed
				  9-8-2015 (Register 2015, No. 37).
5. Change without regulatory
				  effect amending subsections (e), (h) and (l) and amending NOTE filed 3-19-2020
				  pursuant to section
				  100, title 1, California Code of
				  Regulations (Register 2020, No. 12).
Note: Authority cited: Sections
					 6588.7(b)(3)
					 and
					 6588.7(b)(7),
					 Government Code. Reference: Sections
					 6585 and
					 6588.7,
					 Government Code.