California Code of Regulations
Title 4 - Business Regulations
Division 11 - California Pollution Control Financing Authority
Article 3 - General Provisions Relating to Authority Actions
Section 8035.5 - Equipment Only Bond Financing Program

Universal Citation: 4 CA Code of Regs 8035.5

Current through Register 2024 Notice Reg. No. 38, September 20, 2024

(a) The Authority hereby establishes the Equipment Only Bond Financing Program to encourage bond financing for small businesses to meet their equipment purchasing needs.

In order to participate in the program, applicants must make the following covenants when they submit their request for financing:

(1) Bonds must have a final maturity of 12 years or less.

(2) At least 90% of the net project fund of the proposed bond issue must be used to finance equipment, rolling stock and the like with expected economic lives of no more than 10 years. No real estate, improvements thereto, buildings or the like are eligible.

(3) Bond counsel and disclosure counsel fees are limited to $45,000 collectively.

(4) Applicant's financing consultant fees are limited to 0.5% of par.

(5) Applicant's underwriter fees are limited to 0.7% of par.

(6) Applicant's counsel and co-counsel fees are limited to $12,500 collectively.

(b) The Authority will waive the fee as defined in § 8035(a).

(c) No more than $20 million of bonds may be issued per borrower under this program.

(d) The program will expire on December 31, 2014.

1. New section filed 3-7-2011 as an emergency; operative 3-7-2011 (Register 2011, No. 10). A Certificate of Compliance must be transmitted to OAL by 9-6-2011 or emergency language will be repealed by operation of law on the following day.
2. Certificate of Compliance as to 3-7-2011 order transmitted to OAL 8-16-2011 and filed 9-28-2011 (Register 2011, No. 39).
3. Section expired on 3-7-2013 by operation of law pursuant to section 8035.5, subdivision (d), title 4, of the California Code of Regulations (Register 2013, No. 15).
4. New section filed 4-8-2013 as an emergency; operative 4-8-2013 (Register 2013, No. 15). A Certificate of Compliance must be transmitted to OAL by 10-7-2013 or emergency language will be repealed by operation of law on the following day.
5. Certificate of Compliance as to 4-8-2013 order transmitted to OAL 8-28-2013 and filed 10-7-2013 (Register 2013, No. 41).

Note: Authority cited: Section 44520, Health and Safety Code. Reference: Section 44548, Health and Safety Code.

Disclaimer: These regulations may not be the most recent version. California may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.