California Public Utilities Code ARTICLE 5.7 - Monterey Peninsula Water Supply Securitization Act

• Section 849.
  For purposes of this article, the following definitions shall apply:(a) “Ancillary agreement” means a bond insurance policy, letter of credit, reserve account, surety bond, swap arrangement,...
• Section 849.1.
  (a) (1) The commission may issue financing orders in accordance with this article to facilitate the recovery, financing, or refinancing of water supply costs. A financing order...
• Section 849.2.
  (a) A qualifying water utility for which a financing order has been issued shall cause the proceeds of any water rate relief bonds issued pursuant to...
• Section 849.3.
  (a) Financing entities may issue water rate relief bonds upon approval by the commission in the financing order. Water rate relief bonds shall be nonrecourse to...
• Section 849.4.
  (a) A security interest in water supply property is valid, is enforceable against the pledgor and third parties, is subject to the rights of any third...
• Section 849.5.
  (a) A sale, assignment, or transfer of water supply property by a qualifying water utility to an affiliate or to a financing entity, or by an...
• Section 849.6.
  A successor to the qualified water utility, whether pursuant to bankruptcy, reorganization, or other insolvency proceeding, or pursuant to merger, sale, or transfer, by operation...

Last modified: October 22, 2018