Public Resources Code section 26060

(a)

The authority shall develop and administer a PACE Reserve program to reduce overall costs to the property owners of PACE bonds issued by an applicant by providing a reserve of no more than 10 percent of the initial principal amount of the PACE bond.

(b)

The authority shall develop and administer a PACE risk mitigation program for PACE financing to increase its acceptance in the marketplace and protect against the risk of default and foreclosure.

Source: Section 26060, https://leginfo.­legislature.­ca.­gov/faces/codes_displaySection.­xhtml?lawCode=PRC§ionNum=26060.­ (updated Jan. 1, 2015; accessed Jun. 30, 2025).

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Verified:
Jun. 30, 2025

§ 26060's source at ca​.gov