(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 part, the Housing Committee is hereby created. For purposes of this part, the Housing Committee is “the committee” as that term is used in the State General Obligation Bond Law. The committee consists of the Controller, the Treasurer, the Director of Finance, the Director of the Department of Housing and Community Development, and the Executive Director of the California Housing Finance Agency, or their designated representatives. A majority of the committee may act for the committee.
(b) For purposes of the State General Obligation Bond Law, the Department of Housing and Community Development is designated as the “board” for programs administered by the department and the California Housing Finance Agency is designated as the “board” for programs administered by the agency.
(Added by Stats. 1988, Ch. 48, Sec. 2. Approved in Proposition 107 at the June 5, 1990, election.)