California § 13897.3 - The department shall annually establish the interest rate for loans made pursuant
Full text of California Public Contract Code - PCC § 13897.3 — The department shall annually establish the interest rate for loans made pursuant, with citation guidance and answers to common questions.
§ 13897.3. The department shall annually establish the interest rate for loans made pursuant
The department shall annually establish the interest rate for loans made pursuant to this chapter at 50 percent of the average interest rate, computed by the true interest cost method, paid by the state on general obligation bonds for the prior calendar year. All loans made pursuant to this chapter shall carry the established interest rate for the calendar year in which the funds are committed to the loan, as of the date of the letter of commitment from the department, and shall remain at that interest rate for the duration of the loan.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 13897.3
What does Public Contract Code - PCC § 13897.3 cover?
Section 13897.3 ("The department shall annually establish the interest rate for loans made pursuant") is part of the Public Contract Code - PCC, the codified statutory law of California. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite California § 13897.3?
A common citation format is "Public Contract Code - PCC § 13897.3" (California). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of California law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the California official source linked on this page or consult a licensed California attorney.
How does California § 13897.3 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in California can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in California.