§ 12885 Public Agency Construction Loans

Water Code·California

AI SummaryVerified

Key Takeaways

•The state can lend money to public agencies for building projects.
•If the loan is over $4,000,000 for one project, the Legislature must approve it first.
•The Legislature can add extra rules for big loans.

Example

A city wants to build a new park that costs $5,000,000.

The city can ask the state for a loan, but because it's over $4,000,000, the Legislature must say yes first. They might also add rules, like the city must finish the park in 2 years.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source

View on CA.gov

§ 12885 Public Agency Construction Loans

The department is authorized to make state loans to public agencies for the construction of projects from moneys available for such loans. Loans in excess of four million dollars ($4,000,000) for any one project may be made by the department only upon specific approval of the Legislature, by an act enacted after the receipt of copies of the project report filed pursuant to Section 12882. 4 and upon such additional terms and conditions as the Legislature may prescribe. (Amended by Stats. 1967, Ch. 359.)

Last verified: January 23, 2026

Key Terms

state loans public agencies four million dollars ($4,000,000)Legislature Section 12882.4

References

Official text at leginfo.legislature.ca.gov
California Legislature. Water Code. Section 12885.

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References