Section 64101.
64101. The California Transportation Financing Authority is hereby created in state government. The authority constitutes a public instrumentality, and the exercise by the authority of the powers conferred by this division shall be deemed and held to be the performance of an essential public function. (Added by Stats. 2009, Ch. 474, Sec. 1. (AB 798) […]
Section 64102.
64102. As used in this division, the following terms shall have the following meanings, unless the context clearly indicates or requires another or different meaning or intent: (a) “Authority” shall mean the California Transportation Financing Authority. (b) “Bonds” shall mean bonds, notes, debentures, commercial paper, or any other evidence of indebtedness, lease, installment, sale, or certificate of […]
Section 64103.
64103. (a) The authority shall consist of seven members, as follows: (1) The Treasurer, who shall serve as the chair of the authority. (2) The Director of Finance. (3) The Controller. (4) The Director of Transportation. (5) The executive director of the commission. (6) A local agency representative appointed by the Senate Committee on Rules. (7) A local agency representative appointed by the […]
Section 64104.
64104. The provisions of this division shall be administered by the authority, which shall have and is hereby vested with all powers reasonably necessary to carry out the powers and responsibilities expressly granted or imposed under this division. (Added by Stats. 2009, Ch. 474, Sec. 1. (AB 798) Effective January 1, 2010.)
Section 63089.3.
63089.3. (a) The program manager may temporarily suspend the guarantee authority or other financial product authority of a corporation if in the determination of the program manager a corporation has substantially failed to comply with any of the requirements in subdivision (b), causing irreparable harm to the program, the corporation’s guarantee, or any other financial products […]
Section 63089.66.
63089.66. Unless delegated to its loan committee, the corporation’s board of directors, upon a recommendation from its loan committee, shall do all of the following: (a) Emphasize consideration to applications that will increase employment of disadvantaged, disabled, or unemployed persons, or increase employment of youth residing in areas of high youth unemployment and high youth delinquency. […]
Section 63089.4.
63089.4. The bank is authorized to: (a) Approve new corporations recommended by the program manager. (b) Enter into contracts with corporations for program management and other financial product-related services. (c) Select a financial institution or financial company to act as trustee of the trust fund as specified in this chapter. (d) Invest expansion fund and trust fund moneys as […]
Section 63089.5.
63089.5. (a) There is hereby continued in existence in the State Treasury the California Small Business Expansion Fund. All or a portion of the funds in the expansion fund may be paid out, with the approval of the Department of Finance, to a financial institution or financial company that will establish a trust fund and act […]
Section 63089.51.
63089.51. (a) All money deposited in the expansion fund is hereby continuously appropriated, without regard to fiscal years, for the purposes of this chapter. (b) Except as specified in subdivision (b) of Section 63089.54, the state or the bank shall not be liable or obligated in any way beyond the state money that is allocated in the […]
Section 63089.52.
63089.52. (a) The program manager, at his or her discretion, with the approval of the executive director, may request the trustee to invest those moneys in the trust fund in any of the securities described in Section 16430. Returns from these investments shall be deposited in the expansion fund and shall be used to support the […]