SECTIONS 99055 - California Statutes

GOVERNMENT CODE

SECTION 99055

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) 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 Secretary of Business, Transportation and Housing.
(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.