Chapter 2Additional Powers and Duties

Section § 26040

Explanation

This section of California's law allows the authority to receive and use funds from various sources, such as federal grants or loans, to support its work. Additionally, the authority can promise to finance projects for parties trying to develop alternative energy and advanced transportation technologies, even before these parties secure federal matching funds.

(a)CA Public Resources Code § 26040(a) The authority may receive and utilize grants or loans from the federal government, a public agency, or any other source for carrying out the purposes of this division.
(b)CA Public Resources Code § 26040(b) The authority may make a commitment to finance a project by a qualified participating party who requests financing from the authority prior to the participating party’s efforts to secure federal matching funds available to promote the development of alternative sources of energy and advanced transportation technologies.
federal grants loans public agency alternative energy advanced transportation technologies project financing qualified participating party federal matching funds development authority finance commitment sources of energy technology development participating party secure funds
(Amended by Stats. 1994, Ch. 1218, Sec. 11. Effective January 1, 1995.)