No financing shall be made by the bank under this article unless the bank shall have first determined that the financing or assistance meets the following public interest criteria:
(a) The financing, loan, grant, or other assistance is for a project or a use in the State of California.
(b) Those seeking funds or other assistance are capable of meeting obligations incurred under relevant agreements.
(c) In the case of loans or bonds, payments to be made under applicable financing documents are adequate to pay the current expenses of the bank in connection with the financing and to make payments on the bonds.
(d) The proposed financing is appropriate for the specific project.
(Repealed and added by Stats. 1998, Ch. 4, Sec. 15. Effective January 1, 1999.)