“Property Assessed Clean Energy bond” or “PACE bond” means a bond that is secured by any of the following:

(a) A voluntary contractual assessment on property authorized pursuant to paragraph (2) of subdivision (a) of § 5898.20 of the Streets and Highways Code.

Terms Used In California Public Resources Code 26054

  • Authority: means the California Alternative Energy and Advanced Transportation Financing Authority established pursuant to Section 26004, and any board, commission, department, or officer succeeding to the functions of the authority, or to which the powers conferred upon the authority by this division shall be given. See California Public Resources Code 26003

(b) A voluntary contractual assessment or a voluntary special tax on property to finance the installation of distributed generation renewable energy sources, electric vehicle charging infrastructure, or energy or water efficiency improvements that is levied pursuant to a chartered city’s constitutional authority under § 5 of Article XI of the California Constitution.

(c) A special tax on property authorized pursuant to subdivision (b) of § 53328.1 of the Government Code.

(Added by Stats. 2012, Ch. 677, Sec. 33. (SB 1128) Effective January 1, 2013.)

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