BlackletterCalifornia law

CHAPTER 2. California Infrastructure and Economic Development Bank

Heading of Chapter 2 amended (as added by Stats. 1994, Ch. 94) by Stats. 1994, Ch. 749, Sec. 5.

§§ 63021–63049.75 · 71 sections

  1. ARTICLE 1. Creation of the Bank §§ 63021–63028 · 14 sections
    • § 63021 (a) There is within the Governor’s Office of Business and Economic Development the Infrastructure and Economic Development Bank which shall be responsible for…
    • § 63021.5 (a) The bank shall be governed and its corporate power exercised by a board of directors that shall consist of the following persons: (1) The Director of…
    • § 63022 The executive director shall manage and conduct the business and affairs of the bank, the infrastructure bank fund, and guarantee trust fund, subject to the…
    • § 63022.5 (a) The officers of the bank shall be subject to the Political Reform Act of 1974 (Title 9 (commencing with Section 81000)), the applicable rules and standards…
    • § 63023 In administering and directing the day-to-day operations of the bank in regard to this division, the executive director, or whoever he or she shall assign, may…
    • § 63023.1 The board may delegate to the executive director, or whomever he or she shall assign, the authority to execute a contract or agreement, execute an instrument,…
    • § 63024 The executive director may contract for technical services with the Department of Finance, the State Department of Health Care Services, the State Department…
    • § 63024.5 Where a state agency is authorized under state law to request that the bank issue bonds on its behalf, the agency may request, and the bank may issue, the…
    • § 63025 The bank board shall do the following: (a) Adopt bylaws for the regulation of its affairs and the conduct of its business. (b) Adopt an official seal.
    • § 63025.1 The bank board may do or delegate the following to the executive director: (a) Sue and be sued in its own name. (b) As provided in Chapter 5 (commencing with…
    • § 63025.2 Nothing in Section 63025.1 shall be construed to extend or limit the authority of the bank that is otherwise provided in Section 19130.
    • § 63026 The fiscal powers granted to the bank by this part may be exercised without regard or reference to any other department, division, or agency of the state,…
    • § 63027 (a) The bank may provide insurance or reinsurance of loans or portions thereof, or their debt service, including amounts payable as premiums of penalties in…
    • § 63028 The bank assumes and shall observe, keep, and perform all of the responsibilities, liabilities, and obligations of the former California Economic Development…
  2. ARTICLE 2. General Provisions §§ 63030–63036 · 8 sections
    • § 63030 Bonds issued by the bank or a special purpose trust are legal investments for all trust funds, the funds of all insurance companies, banks, both commercial and…
    • § 63031 No liability shall be incurred by the bank beyond the extent to which funds have been provided under this division. However, for the purposes of meeting the…
    • § 63032 (a) Neither the bank nor a special purpose trust authorized by the bank is required to pay any property taxes or assessments upon, or with respect to, any…
    • § 63033 The state does hereby pledge to, and agrees with, the holders of any bonds issued under this division, and with those parties who may enter into contracts with…
    • § 63034 The bank shall establish a reasonable schedule of administrative fees, which shall be paid by the sponsor or the participating party pursuant to Section 63074,…
    • § 63035 (a) The bank shall, not later than January 1 of each year, submit to the Strategic Growth Council, the Governor, the Speaker of the Assembly, the President pro…
    • § 63035.5 The report required by Section 63035 shall be submitted to the Governor and the Joint Legislative Budget Committee on a quarterly basis during the 1999–2000…
    • § 63036 It is the intent of the Legislature that the activities of the bank be fully coordinated with any future legislative plan involving growth management…
  3. ARTICLE 3. Local Resolution Applying for Bank Financing §§ 63040–63041.5 · 3 sections
    • § 63040 (a) Following consultation with appropriate state and local agencies, the bank shall establish criteria, priorities, and guidelines for the selection of…
    • § 63041 (a) Prior to submitting a project to the bank for consideration, the legislative body or bodies of the sponsor or sponsors of the project shall find, by…
    • § 63041.5 (a) It is the intent of the Legislature to provide a one-time appropriation for financial assistance to local government to meet capital outlay and…
  4. ARTICLE 4. Financing of Transition Costs § 63042 · 1 section
    • § 63042 Notwithstanding any other provision of this division, a project for the financing of transition costs and the acquisition of transition property upon the…
  5. ARTICLE 5. Financing Economic Development Facilities §§ 63043–63047 · 5 sections
    • § 63043 Notwithstanding any other provision of this division, Article 3 (commencing with Section 63040) and Article 4 (commencing with Section 63042), shall not apply…
    • § 63044 The bank shall consider a project for conduit financing for economic development facilities upon filing of an application with the bank by an appropriate…
    • § 63045 In order to provide or arrange for the financing of economic development facilities, the bank may: (a) Issue taxable revenue bonds pursuant to Chapter 5…
    • § 63046 No financing shall be made by the bank under this article unless the bank shall have first determined that the financing or assistance meets the following…
    • § 63047 (a) Any loan entered into pursuant to this article may contain provisions for payment of a penalty if any recipient of funds under this article leaves this…
  6. ARTICLE 5.5. Financing Public Development Facilities § 63047.1 · 1 section
    • § 63047.1 Any housing financed pursuant to this chapter shall meet all of the following conditions: (a) Any tax-exempt revenue bonds issued by the bank under a state…
  7. ARTICLE 6. State Water Pollution Control Revolving Fund Program §§ 63048–63048.5 · 3 sections
    • § 63048 For purposes of this article, the following terms have the following meanings, unless the context clearly indicates or requires another meaning: (a)“Board”…
    • § 63048.3 Notwithstanding any other provision of this division, Article 3 (commencing with Section 63040), Article 4 (commencing with Article 63042), and Article 5…
    • § 63048.5 (a) The bank may issue taxable or tax-exempt revenue bonds pursuant to Chapter 5 (commencing with Section 63070) and deposit the proceeds from the bonds into…
  8. ARTICLE 6.3. Safe Drinking Water State Revolving Fund §§ 63048.55–63048.57 · 3 sections
    • § 63048.55 For the purposes of this article, the following terms have the following meanings: (a) “Department” means the State Department of Public Health. (b) “Revolving…
    • § 63048.56 Notwithstanding any other law, Article 3 (commencing with Section 63040), Article 4 (commencing with Section 63042), and Article 5 (commencing with Section…
    • § 63048.57 (a) The bank may issue taxable or tax-exempt revenue bonds pursuant to Chapter 5 (commencing with Section 63070) and deposit the proceeds from the bonds into…
  9. ARTICLE 6.5. Tribal Compact Assets Securitization §§ 63048.6–63048.9 · 4 sections
    • § 63048.6 The definitions contained in this section are in addition to the definitions contained in Section 63010 and together with the definitions contained in that…
    • § 63048.63 (a) The Legislature hereby finds and declares: (1) The financial and legal records of California Indian tribes and tribal business enterprises are records of a…
    • § 63048.65 (a) Prior to July 1, 2015, three hundred twenty-one million dollars ($321,000,000) of the one billion two hundred million dollars ($1,200,000,000) of loans…
    • § 63048.9 This article and all powers granted hereby shall be liberally construed to effectuate its intent and their purposes.
  10. ARTICLE 6.7. Climate Catalyst Revolving Fund Act of 2020 §§ 63048.91–63048.100 · 10 sections
    • § 63048.91 (a) This chapter shall be known, and may be cited, as the Climate Catalyst Revolving Fund Act of 2020. (b) Notwithstanding any other provision of this…
    • § 63048.92 The definitions contained in this section are in addition to the definitions contained in Section 63010 and together with the definitions contained in that…
    • § 63048.93 (a) The bank is hereby authorized and empowered to provide financial assistance under the Climate Catalyst Revolving Fund Program to any eligible sponsor or…
    • § 63048.94 (a) Annually, commencing January 1, 2023, and no later than January 1 of each year thereafter, the bank shall prepare and submit, as specified in subdivision…
    • § 63048.95 (a) (1) There is hereby created in the State Treasury the Climate Catalyst Revolving Fund for the purpose of implementing the objectives and provisions of this…
    • § 63048.96 (a) (1) The bank may pledge any or all of the moneys in the Climate Catalyst Revolving Fund as security for payment of the principal of, and interest on, any…
    • § 63048.97 (a) The bank may administer and distribute among the accounts and subaccounts created under this article, at its discretion, the proceeds from any general…
    • § 63048.98 All costs, liabilities, obligations, and expenses incurred in carrying out the purposes of this article shall be payable solely from funds provided for the…
    • § 63048.99 (a) Moneys in the Climate Catalyst Revolving Fund received from the proceeds of bonds issued pursuant to this division may not be transferred to any other fund…
    • § 63048.100 (a) Notwithstanding Chapter 2 (commencing with Section 12850) of Part 2.5 of Division 3 of Title 2 and Article 2 (commencing with Section 13320) of Chapter 3…
  11. ARTICLE 7. Tobacco Settlement State Securitization §§ 63049–63049.55 · 7 sections
    • § 63049 The definitions contained in this section are in addition to the definitions contained in Section 63010 and together with the definitions contained in that…
    • § 63049.1 (a) Subject to subdivision (c) and subdivision (d), as applicable, the bank is hereby authorized to sell for, and on behalf of, the state, solely as its agent,…
    • § 63049.2 Notwithstanding any other provision of this division, Article 3 (commencing with Section 63040), Article 4 (commencing with Section 63042), and Article 5…
    • § 63049.3 Any sale of some or all of the tobacco assets under this article shall be treated as a true sale and absolute transfer of the property so transferred to the…
    • § 63049.4 (a) On and after the effective date of each sale of tobacco assets, the state shall have no right, title, or interest in or to the tobacco assets sold, and the…
    • § 63049.5 The state acknowledges and agrees that its 57 counties, the Cities of San Jose, Los Angeles, and San Diego, and the City and County of San Francisco, commonly…
    • § 63049.55 (a) The Tobacco Asset Sales Revenue Fund is hereby established in the State Treasury for the purpose of maintaining a separate account for the investment of…
  12. ARTICLE 8. Financing of Insurance Claims §§ 63049.6–63049.66 · 4 sections
    • § 63049.6 For purposes of this article, the following terms have the following meanings, in addition to the definitions contained in Section 63010, unless the context…
    • § 63049.62 Notwithstanding any other provision of this division, a financing of the costs of claims of insolvent insurers upon the request of the association pursuant to…
    • § 63049.64 (a) The bank may issue bonds pursuant to Chapter 5 (commencing with Section 63070) and may loan the proceeds thereof to the association, and deposit the…
    • § 63049.66 The fund, and any other fund or account established pursuant to the issuance of bonds authorized by this article may be invested in any investment authorized…
  13. ARTICLE 9. Financing of School District Emergency Apportionments §§ 63049.67–63049.68 · 2 sections
    • § 63049.67 (a) Notwithstanding any other provision of this division, a financing of emergency apportionments upon the request of a school district pursuant to Article 2.7…
    • § 63049.68 The State of California pledges that (a) the state will not alter the directive to the Controller to make apportionments to the bond trustee of moneys in the…
  14. ARTICLE 10. Golden State Energy Financing § 63049.70 · 1 section
    • § 63049.70 (a) Notwithstanding this division, the financing of energy and project costs on behalf of Golden State Energy, as defined in Section 222.5 of the Public…
  15. ARTICLE 10.5. California Transmission Accelerator Financing §§ 63049.71–63049.74 · 4 sections
    • § 63049.71 The following definitions contained in this section are in addition to the definitions contained in Section 63010 and together with the definitions contained…
    • § 63049.72 (a) The financing of projects related to Chapter 9 (commencing with Section 94500) of Division 50 of the Public Resources Code shall be deemed to be in the…
    • § 63049.73 (a) The bank is hereby authorized and empowered to provide financial assistance under the Accelerator Revolving Fund Program to any eligible participating…
    • § 63049.74 (a) There is hereby created the California Transmission Accelerator Revolving Fund in the State Treasury for the purpose of providing financial assistance…
  16. ARTICLE 11. California FAIR Plan Association Financing § 63049.75 · 1 section
    • § 63049.75 (a) Notwithstanding any other provision of this division, pursuant to Section 10100.3 of the Insurance Code and upon approval of the bank, a financing of the…