§ 26060
76 words·~1 min read·
/ca/public-resources-code/26060A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)The authority shall develop and administer a PACE Reserve program to reduce overall costs to the property owners of PACE bonds issued by an applicant by providing a reserve of no more than 10 percent of the initial principal amount of the PACE bond.
(b)The authority shall develop and administer a PACE risk mitigation program for PACE financing to increase its acceptance in the marketplace and protect against the risk of default and foreclosure.