(a) Solely for the purpose of authorizing the issuance and sale pursuant to the State General Obligation Bond Law of the bonds authorized by this title and the making of those determinations and the taking of other actions as are authorized by this title, the Economic Recovery Financing Committee is hereby created. For purposes of this title, the Economic Recovery Financing Committee is “the committee” as that term is used in the State General Obligation Bond Law (Chapter 4 (commencing with Section 16720) of Part 3 of Division 4 of Title 2).
(b) The committee consists of all of the following members:
(1) The Governor or his or her designee.
(2) The Director of Finance.
(3) The Treasurer.
(4) The Controller.
(5) The Director of the Governor’s Office of Business and Economic Development.
(6) The Director of General Services.
(7) The Director of Transportation.
(c) Notwithstanding any other provision of law, any member may designate a deputy to act as that member in his or her place and stead for all purposes, as though the member were personally present.
(d) The Legislature finds and declares that each member of the committee has previously acted as a member of a similar finance committee.
(e) A majority of the members of the committee shall constitute a quorum of the committee and may act for the committee.
(f) The Director of Finance shall serve as chairperson of the committee.
(Amended by Stats. 2013, Ch. 353, Sec. 110. (SB 820) Effective September 26, 2013. Operative July 1, 2013, by Sec. 129 of Ch. 353. Note: This section was added by Stats. 2003, 5th Ex. Sess., Ch. 2, and approved in Prop. 57 on March 2, 2004.)
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.