SECTIONS 92100-92111 - California Statutes

GOVERNMENT CODE

SECTION 92100-92111

92100. There is in the state government the California Passenger
Rail Financing Commission.
The commission constitutes a public instrumentality and a
political subdivision of the State of California, and the exercise by
the commission of the powers conferred by this title shall be deemed
and held to be the performance of an essential public function.

92101. The commission shall consist of the Treasurer and three
appointed members, one each by the Governor, the Senate Rules
Committee, and the Speaker of the Assembly.
The Treasurer is an elected public official for purposes of
federal tax laws.

92102. The first meeting of the commission shall be convened by the
Treasurer, who shall be the chairman.

92103. All members of the commission shall serve thereon without
compensation.

92104. The Treasurer shall have and is hereby vested with all
powers reasonably necessary to carry out the administrative
responsibilities expressly granted or imposed upon him under this
title.

92105. The commission shall maintain an office in the City of
Sacramento.

92106. The Treasurer may employ an executive secretary and other
persons as are necessary to enable him to perform properly the duties
imposed upon him by this title.
The executive secretary shall serve at the pleasure of the
Treasurer and shall receive compensation as fixed by the Treasurer.

92107. The commission shall, in accordance with Chapter 3.5
(commencing with Section 11340) of Part 1 of Division 3 of Title 2,
adopt all necessary rules and regulations to carry out its powers and
duties under this title.

92108. The Attorney General shall be the legal counsel for the
commission, but with the approval of the Attorney General, the
commission may employ legal counsel as, in its judgment, is necessary
or advisable to enable it to carry out the duties and functions
imposed upon it by this title.

92109. The Treasurer shall be the treasurer for the commission.

92110. On behalf of the commission, the Treasurer may employ and
fix the compensation of bond counsel, financial consultants, and
advisers as may be necessary, in his judgment, in connection with the
issuance and sale of any bonds, notes, bond anticipation notes, or
other obligations of the commission.

92111. The commission may do all of the following:
(a) Adopt an official seal.
(b) Sue and be sued in its own name.
(c) Do all things generally necessary or convenient to carry out
its powers and the purposes under this title.