10 CCR s 6050

Cal. Admin. Code tit. 10, s 6050

CALIFORNIA CODE OF REGULATIONS
TITLE 10. INVESTMENT
CHAPTER 8. CALIFORNIA INDUSTRIAL DEVELOPMENT FINANCING ADVISORY COMMISSION
ARTICLE 3. ACTIONS
This database is current through 01/05/07, Register 2007, No. 1.
s 6050. Submission of Project Information.

(a) An Authority shall not issue bonds for a project until the information
referenced in Section 91531 of the Act has been received by the Commission
and the determination required under said section have been made by the
Commission or the Authority.

(b) For a period of sixty (60) days following the date of receipt by the
Commission of the information referenced in Section 91531 the Commission
shall have sole jurisdiction to make the determinations required by said
section provided that the sixty day period may be extended by written
consent of the Authority. At the end of sixty days, if that period has not
been extended by the written consent of the Authority, and the Commission
has not made its required determinations, the Commission shall lose
jurisdiction to make such determinations.

(c) The nature of the information required for the making of the
determination pursuant to Section 91531 is as follows:

(1) The application submitted by an applicant to an Authority and
approved by the public agency which application shall minimally
include:

(A) Identification of and a description of the applicant.

(B) A description of the project.

(C) A description of the activities or uses for which property
acquired as part of the undertaking of the project will be suitable.

(D) The cost of the project.

(E) The maximum amount of bonds proposed to be issued in
conjunction with the undertaking of the project.

(F) A description of the proposed issuance of bonds including
security therefor, the revenues to be used in paying debt service
and whether the bonds are proposed to be issued in exchanged for one
or more outstanding bonds or bonds, or claims, or partly in such
exchange and partly for cash or property.

(G) A description of the public benefit, pursuant to criteria
contained in Section 91502.1, which would accrue from undertaking
the project.

(H) A description of any public detriment from issuance of bonds in
the maximum amount proposed in the application.

(I) A description of the statewide size and location of the
operations of the applicant both at the time of the application and
as projected following completion of the project.

(J) Information as to whether the completion of the project or
operation of facilities to be acquired as part of the undertaking of
the project is reasonably necessary to prevent the relocation of any
substantial operations of a company from an are within the state to
an area outside the state.

(K) Any other information deemed by the applicant or the Authority
to be necessary to the accurate portrayal of the project and its
effects or which would facilitate the determination required by
Sections 91530 and 91531.

(2) The identification of the Authority which accepted the
application and the public agency which approved said application.

(3) Certified copies of all resolutions and other documents
relating to actions taken by the authority and the public agency
with regard to the application.

Note: Authority cited: Section 91557, Government Code.
Reference: Section 91531, Government Code.

10 CCR s 6050, 10 CA ADC s 6050
1CAC

10 CA ADC s 6050

END OF DOCUMENT