(a)CA Government Code § 99055(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)CA Government Code § 99055(b) The committee consists of all of the following members:
(1)CA Government Code § 99055(b)(1) The Governor or
his or her designee.
(2)CA Government Code § 99055(b)(2) The Director of Finance.
(3)CA Government Code § 99055(b)(3) The Treasurer.
(4)CA Government Code § 99055(b)(4) The Controller.
(5)CA Government Code § 99055(b)(5) The Director of the Governor’s Office of Business and Economic Development.
(6)CA Government Code § 99055(b)(6) The Director of General Services.
(7)CA Government Code § 99055(b)(7) The Director of Transportation.
(c)CA Government Code § 99055(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)CA Government Code § 99055(d) The Legislature finds and declares that each member of the
committee has previously acted as a member of a similar finance committee.
(e)CA Government Code § 99055(e) A majority of the members of the committee shall constitute a quorum of the committee and may act for the committee.
(f)CA Government Code § 99055(f) The Director of Finance shall serve as chairperson of the committee.
