2005 California Government Code Sections 63040-63041.5 Article 3. Local Resolution Applying for Bank Financing ..

63040.  (a) Following consultation with appropriate state and local
agencies, the bank shall establish criteria, priorities, and
guidelines for the selection of projects to receive assistance from
the bank.  Projects shall comply with the criteria, priorities, and
guidelines adopted by the bank.
   (b) The criteria, priorities, and guidelines shall, at a minimum,
be based upon the following:
   (1) The State Environmental Goals and Policy Report, or its
successor, approved pursuant to Article 5 (commencing with Section
65041) of Chapter 1.5 of Division 1 of Title 7.
   (2) If the sponsor is a state agency, board, commission, or
department, the Capital and Infrastructure Project Planning Report,
prepared by the Director of Finance pursuant to Article 2 (commencing
with Section 13100) of Chapter 2 of Part 3 of Division 3 of Title 2.
   (c) When the bank establishes or makes changes to the criteria,
priorities, and guidelines, the bank shall notify the Governor, the
fiscal and policy committees of the Legislature that exercise
legislative oversight of the bank, and appropriate state and local
agencies.
   (d) The resolution required in Section 63041 shall have been
adopted prior to the project's selection by the bank.
63041.  (a) Prior to submitting a project to the bank for
consideration, the legislative body or bodies of the sponsor or
sponsors of the project shall find, by resolution, each of the
following:
   (1) The project is consistent with the general plan of both the
city and county, or city and county in the case of San Francisco, or
only the county for projects in unincorporated areas in which the
project is located.
   (2) The proposed financing is appropriate for the specific
project.
   (3) The project facilitates effective and efficient use of
existing and future public resources so as to promote both economic
development and conservation of natural resources.  The project
develops and enhances public infrastructure in a manner that will
attract, create, and sustain long-term employment opportunities.
   (4) The project is consistent with the criteria, priorities, and
guidelines for the selection of projects adopted pursuant to Section
63040.
   (b) Upon the adoption of the resolution in subdivision (a) by the
legislative body, the legislative body shall transmit the resolution
to the executive director of the infrastructure bank.
63041.5.  (a) It is the intent of the Legislature to provide a
one-time appropriation for financial assistance to local government
to meet capital outlay and infrastructure needs.
   (b) From the funds appropriated in Item 2920-111-0001 of the
Budget Act of 1999, the sum of four hundred twenty-five million
dollars ($425,000,000) shall be available for financial assistance,
including, but not limited to, leveraged revolving fund loans, to
local government sponsors for public development facilities, as
specified in subdivision (q) of Section 63010 of the Government Code.
   (c) From the funds appropriated in Item 2920-111-0001 of the
Budget Act of 1999 and in Item 2920-111-0001 of the Budget Act of
1998 (Chapter 324 of the Statutes of 1998), the California
Infrastructure and Economic Development Bank shall make no single
loan in excess of 10 percent of the combined amount of these
appropriations to the bank unless approved by unanimous consent of
the membership of the Board of Directors of the California
Infrastructure and Economic Development Bank and the Director of
Finance provides a 30-day written notice to the Chairperson and
Vice-Chairperson of the Joint Legislative Budget Committee.