California Government Code

§ 14937

GOV § 14937 Effective Jun 27, 2019Div. 3 · Title 2 · Part 5.5 · Ch. 9

Statute text

(a)Notwithstanding any other law, local agencies and school districts that are statutorily authorized to acquire goods, information technology, and related services pursuant to subdivision (b) of Section 10298 of the Public Contract Code and subdivision (b) of Section 10299 of the Public Contract Code, respectively, are eligible to use the preapproved lenders participating in the GS $Mart Program.

(b)A local agency or school district using the preapproved lenders participating in the GS $Mart Program may arrange for consulting services to be provided by the department, at current state price book rates, in order to facilitate the local agency or school district’s financing of the assets authorized herein without further competitive bidding.

(c)For tax-exempt financings, a local agency or school district shall engage independent counsel in order to obtain an opinion confirming that the assets qualify for tax-exempt financing. The local agency or school district shall be solely responsible for compliance with any rules or laws necessary to maintain the tax-exempt status of those financings. The State of California and the GS $Mart Program shall not have any responsibilities related to the tax exemption of financings authorized in this section.

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Legislative history

Added by Stats. 2019, Ch. 29, Sec. 102. (SB 82) Effective June 27, 2019.