Section 26054 - Property Assessed Clean Energy bond or PACE bond defined"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 Section 5898.20 of the Streets and Highways Code.(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 Section 5 of Article XI of the California Constitution.(c) A special tax on property authorized pursuant to subdivision (b) of Section 53328.1 of the Government Code.Ca. Pub. Res. Code § 26054
Added by Stats 2012 ch 677 (SB 1128),s 33, eff. 1/1/2013.