(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 chapter, the Safe Neighborhood Parks, Clean Water, Clean Air, and Coastal Protection (Villaraigosa-Keeley Act) Finance Committee is hereby created. For purposes of this chapter, the Safe Neighborhood Parks, Clean Water, Clean Air, and Coastal Protection (Villaraigosa-Keeley Act) Finance Committee is “the committee” as that term is used in the State General Obligation Bond Law. The committee consists of the Controller, the Director of Finance, and the Treasurer, or their designated representatives. The Treasurer shall serve as chairperson of the committee. A majority of the committee may act for the committee.
(b) For purposes of the State General Obligation Bond Law, the secretary is designated the “board.”
(Added by Stats. 1999, Ch. 638, Sec. 15. Approved in Proposition 12 at the March 7, 2000, election. Note: Pursuant to Stats. 1999, Ch. 638, Sec. 17, this section was submitted in Prop. 12 in place of the section proposed by Stats. 1999, Ch. 461.)
Last modified: October 25, 2018