§ 16945. — 16945. (Added by Stats. 2004, Ch. 215, Sec. 4.)

California § 16945.

• Jurisdiction: California
• Code GOV: Government Code - GOV
• Div.: 4.
• Title 2.: DIVISION 4. FISCAL AFFAIRS
• Part 3.: PART 3. STATE BONDS
• Ch. 8.: CHAPTER 8. The California Pension Restructuring Bond Act of 2004
• Art. 2.: ARTICLE 2. Issuance of Bonds to Finance the Program

Text

The committee is authorized and empowered, for and in the name and on behalf of the state, to do all of the following:
(a)
Upon the request of the Director of Finance, and following receipt of the determination of the Director of Finance pursuant to Section 16941, issue taxable or tax-exempt bonds for the purpose of funding or refunding pension obligations, paying related costs and ancillary obligations, or refunding any bonds previously issued pursuant to this chapter.
(b)
Execute debentures or other instruments evidencing the pension obligations.
(c)
Enter into ancillary obligations and other contracts deemed necessary by the committee in connection with any bonds issued under this chapter.
(d)
Establish the terms and conditions for the program undertaken pursuant to this chapter.
(e)
Employ or contract for legal, consulting, underwriting, or other services in connection with the program as may be necessary in the judgment of the committee, as approved by the Treasurer, as agent for sale of the bonds, for the successful financing of the program and the issuance and sale of bonds.
(f)
In addition to the powers specifically granted in this chapter, do all things necessary or convenient, including delegation of necessary duties to the Director of Finance, as chairperson, and to the Treasurer, as agent for sale of the bonds, to carry out the purposes of this chapter.

Legislative History

Added by Stats. 2004, Ch. 215, Sec. 4. Effective August 11, 2004.