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Subchapter 1.5. Energy And Resource Conservation. Community College Districts, Borrowing; Retrofitting Buildings for Energy Conservation; Savings and Loan Investment.   

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(a) Community college districts may borrow funds from federal or state regulated financial institutions for the purposes of design and construction costs associated with retrofitting buildings to become more energy efficient. Community college districts shall only be authorized to borrow an amount which does not exceed that which can be repaid from energy cost avoidance savings accumulated from the improvement of school facilities.

(b) Any savings and loan association may make loans or advances of credit pursuant to the provisions of subdivision (a) in an amount not in excess of 5 percent of its total assets. This investment may be in addition to any other investment savings and loan associations are permitted to undertake under the provisions of the Financial Code.

Authority cited:

Education Code 66700

Education Code 70901

Reference:

Education Code 70901

(Amended by Register 2006, No. 17.)