California Code of Regulations
Title 4 - Business Regulations
Division 11 - California Pollution Control Financing Authority
Article 11 - Sustainable Communities Grant and Loan Program-Loans
Section 8123 - Loan Agreements
Current through Register 2024 Notice Reg. No. 38, September 20, 2024
The terms and conditions of a Loan shall be set forth in a Loan Agreement executed by the Borrower and shall include all of the following terms and conditions:
(a) A Loan amount not greater than one hundred fifty thousand dollars ($150,000) for Eligible Costs with respect to a Project;
(b) A Loan disbursement period not to exceed thirty-six (36) months from the execution date of the Loan Agreement;
(c) A Loan term not to exceed sixty (60) months;
(d) A Loan interest rate that bears zero (0%) interest;
(e) Full repayment of the Loan will be due at maturity with no prepayment penalties;
(f) Disbursement procedures pursuant to Section 8124;
(g) A provision that any unused Loan funds shall revert to the Authority;
(h) Agreement to comply with the Authority's program statutes and regulations;
(i) Agreement that the Borrower will defend, indemnify and hold harmless the Authority and the State, and all officers, trustees, agents and employees of the same, from and against any and all claims, losses, costs, damages, or liabilities of any kind or nature, whether direct or indirect, arising from or relating to the Loan, the Project or this program;
(j) Agreement to comply with laws outlawing discrimination including, but not limited to those prohibiting discrimination because of sex, race, color, ancestry, religion, creed, national origin, physical disability (including HIV and AIDS), mental disability, medical condition (cancer or genetic characteristics), sexual orientation, political affiliation, position in a labor dispute, age, marital status, and denial of statutorily-required employment-related leave;
(k) Agreement that continued compliance with program requirements is the Borrower's responsibility;
(l) Agreement that the Loan shall only be used for Eligible Costs as described in the Borrower's Application;
(m) Any other provision agreed to by the parties.
1. New section
filed 5-13-2002 as an emergency; operative 5-13-2002 (Register 2002, No. 20).
Pursuant to Health and Safety Code section
44520(c)
a Certificate of Compliance must be transmitted to OAL by 11-12-2002 or
emergency language will be repealed by operation of law on the following
day.
2. Certificate of Compliance as to 5-13-2002 order transmitted
to OAL 7-31-2002 and filed 9-12-2002 (Register 2002, No. 37).
Note: Authority cited: Sections 44520(a) and 44520(c), Health and Safety Code. Reference: Sections 44501, 44502, 44526(g) and 44526(i), Health and Safety Code.
