§ 68307. Interest Rate.

To the extent permitted by federal law, the interest rate shall be set at a rate equal to 50 percent of the interest rate paid by the State on the most recent sale of State general obligation bonds and the interest rate shall be computed according to the true interest cost method.

HISTORY

1. New section filed 6-25-2001 as an emergency; operative 6-25-2001 (Register 2001, No. 26). A Certificate of Compliance must be transmitted to OAL by 10-23-2001 or emergency language will be repealed by operation of law on the following day.

2. New section refiled 10-2-2001 as an emergency; operative 10-24-2001 (Register 2001, No. 40). A Certificate of Compliance must be transmitted to OAL by 2-21-2002 or emergency language will be repealed by operation of law on the following day.

3. New section refiled 2-13-2002 as an emergency; operative 2-13-2002 (Register 2002, No. 7). A Certificate of Compliance must be transmitted to OAL by 6-13-2002 or emergency language will be repealed by operation of law on the following day.

4. Certificate of Compliance as to 2-13-2002 order transmitted to OAL 2-28-2002 and filed 4-8-2002 (Register 2002, No. 15).

Note

Note: Authority cited: Sections 25150 and 25351.5, Health and Safety Code; and Section 79133, Water Code. Reference: Sections 13480 and 79133, Water Code.