(a) Golden State Energy indebtedness shall not be deemed to constitute a debt or liability of the state or of any political subdivision thereof, or a pledge of the faith and credit of the state or of any political subdivision of the state.

(b) Golden State Energy indebtedness shall be payable solely from the funds available to it.

Terms Used In California Public Utilities Code 3442

  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • State: means the State of California, unless applied to the different parts of the United States. See California Public Utilities Code 17
  • Subdivision: means a subdivision of the section in which that term occurs unless some other section is expressly mentioned. See California Public Utilities Code 10

(c) The issuance of indebtedness shall not directly, indirectly, or contingently obligate the state or any other political subdivision of the state to levy or pledge any form of taxation or to make any appropriation for its repayment.

(Added by Stats. 2020, Ch. 27, Sec. 12. (SB 350) Effective January 1, 2021.)

  Previous section
Next section  
 Part 4 Contents