Common use of Water System Facility Revenue Bonds to Finance Capital Costs Incurred On or After the Billing Transition Date Clause in Contracts

Water System Facility Revenue Bonds to Finance Capital Costs Incurred On or After the Billing Transition Date. The provisions of this subdivision (b) shall apply to the Financing Costs of Revenue Bonds issued to finance Water System Facility Capital Costs Incurred on or after the Billing Transition Date. Charges to all Contractors for such Financing Costs shall return to the State each year an amount equal to the Financing Costs the State incurs in that year for such Water System Facility Revenue Bonds. The amount of this charge shall be calculated in two steps as follows: