There is a newer version of the California Code
2005 California Government Code Sections 8790.80-8790.87 Goals for Professional Bond Services
GOVERNMENT CODESECTION 8790.80-8790.87
8790.80. (a) Notwithstanding any other provision of law, each awarding department shall offer participation to minority and women business enterprises in all contracts for bonds issued pursuant to this chapter by the awarding department, except if a contract for professional bond services of an underwriter is to be obtained by competitive bid. Each awarding department shall have annual statewide participation goals of not less than 15 percent for minority business enterprises and 5 percent for women business enterprises for contracts entered into by the awarding department during the year for each of the professional bond services. These goals shall apply to the overall dollar amount expended by the awarding department pursuant to this chapter with respect to the contracts for professional bond services relating to the issuance of bonds by the awarding department including amounts spent as underwriter's and market discounts. (b) In attempting to meet the goals set forth in subdivision (a), the awarding department shall consider establishing cocounsel, joint venture, and subcontracting relationships including minority business enterprises and women business enterprises in all contracts for bonds awarded by the awarding department. However, nothing in this article shall preclude the awarding department from achieving the goals set forth in this section without requiring joint ventures, cocounsel, or subcontracting arrangements. (c) This section shall not limit the ability of any awarding department to meet a goal higher than those set forth in subdivision (a) for participation of minority and women business enterprises in contracts awarded by the awarding department. 8790.81. As used in this article, the following definitions apply: (a) "Awarding department" means any state agency, department, constitutional officer, governmental entity, or other officer or entity empowered by law to issue bonds on behalf of the State of California. (b) "Bonds" means bonds, notes, warrants, certificates of participation, and other evidences of indebtedness issued by or on behalf of the State of California. (c) "Contract" includes any contract, agreement, or joint agreement to provide professional bond services to the State of California or an awarding department. (d) "Contractor" means any provider of professional bond services who enters into a contract with an awarding department. (e) "Goal" means a numerically expressed objective which awarding departments and providers of professional bond services are required to make efforts to achieve. (f) "Minority" means an ethnic person of color including American Indians, Asians (including, but not limited to, Chinese, Japanese, Koreans, Pacific Islanders, Samoans, and Southeast Asians), Blacks, Filipinos, and Hispanics. (g) "Minority business enterprise" means a business concern which meets all of the following requirements: (1) A sole proprietorship owned by a minority or a firm or partnership, 51 percent of the stock or partnership interests of which are owned by one or more minorities. (2) Managed by, and the daily business operations are controlled by, one or more minorities. (3) A sole proprietorship, corporation, or partnership with its home office located in the United States, which is not a branch or subsidiary of a foreign corporation, firm, or other business. (h) "Professional bond services" include services as financial advisors, bond counsel, underwriters in negotiated transactions, underwriter's counsel, financial printers, feasibility consultants, and other professional services related to the issuance and sale of bonds. (i) "Women business enterprise" means a business concern which meets all of the following requirements: (1) A sole proprietorship owned by a woman or is a firm or partnership, 51 percent of the stock or partnership interests of which are owned by one or more women. (2) Managed by, and the daily business operations are controlled by, one or more women. (3) A sole proprietorship, corporation, or partnership with its home office located in the United States. 8790.82. Notwithstanding Section 8790.80, if a contract for professional bond services of an underwriter is to be obtained by competitive bid, the awarding department shall, at a minimum, take all of the following actions: (a) Deliver the notice of sale or other notification of intention to issue the bonds to all minority and women business enterprises who have listed their names with the awarding department for the purpose of this notice and such other qualified minority and women business enterprises known to the awarding department. (b) State in all notices of sale and other notifications of intention to issue bonds that minority and women business enterprises are encouraged to respond. (c) Require all submitting bidders to certify their awareness of the goals of the awarding department in accordance with this article. 8790.83. (a) The awarding department shall establish a method of monitoring adherence to the goals specified in Section 8790.80, including requiring a followup report from all contractors upon the completion of any sale of bonds. (b) The awarding department shall adopt rules and regulations for the purpose of implementing this section. Emergency regulations consistent with this section may be adopted without review and approval by the Office of Administrative Law if adopted within 90 days of the effective date of this article. 8790.84. In implementing this article, the awarding department shall utilize existing resources such as the Office of Small and Minority Business. 8790.85. Beginning July 1, 1988, and on January 1, 1989, and on January 1 of each year thereafter, each awarding department shall report to the Governor and the Legislature on the level of participation by minority and women business enterprises in contracts as identified in this article. If the established goals are not met, the awarding department shall report the reasons for its inability to achieve the goals and identify steps it shall take in an effort to achieve the goals. 8790.86. Notwithstanding anything in this article to the contrary, the validity or enforceability of any bonds to which this article applies shall not be affected in any way by the failure of an awarding department to meet the goals established under this article. 8790.87. If another statute, which is chaptered and takes effect after this article, establishes minority and women business enterprise participation goals which are generally applicable to professional bond services but are different than the goals established under this article, those goals of the subsequently enacted statute shall supersede the goals established under this article.
Disclaimer: These codes may not be the most recent version. California may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.