116761.50. (a) The board may enter into financing agreements with applicants for the purposes set forth in this chapter.(b) If the board provides construction financing, the financing recipient shall commit to operate and maintain, or ensure the operation and maintenance of, the water system for the term of the financing agreement or the useful life of the project, as determined by the board, unless otherwise authorized by the board.(c) This section shall become operative on January 1 of the next calendar year occurring after the board provides notice to the Legislature and the Secretary of State and posts notice on its Internet Web site that the board has adopted a policy handbook pursuant to Section 116760.43.(Repealed (in Sec. 109) and added by Stats. 2014, Ch. 35, Sec. 110. (SB 861) Effective June 20, 2014. Section became operative on January 1, 2015, pursuant to its own provisions.)
California Legal Code