ARTICLE 1. Creation of the Bank
Article 1 added by Stats. 1994, Ch. 94, Sec. 1.
§§ 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…