California Health and Safety Code 125291.40 – (a) Solely for the purpose of authorizing the issuance and sale, …
(a) Solely for the purpose of authorizing the issuance and sale, pursuant to the State General Obligation Bond Law, of the bonds and interim debt authorized by this article, the California Stem Cell Research and Cures Finance Committee is hereby created. For purposes of this article, the California Stem Cell Research and Cures Finance Committee is “the committee” as that term is used in the State General Obligation Bond Law. The committee consists of the Treasurer, the Controller, the Director of Finance, the Chairperson of the California Institute for Regenerative Medicine, and two other members of the Independent Citizens Oversight Committee (as created by the act) chosen by the Chairperson of the California Institute for Regenerative Medicine, or their designated representatives. The Treasurer shall serve as chairperson of the committee. A majority of the committee may act for the committee.
(b) For purposes of the State General Obligation Bond Law, the California Institute for Regenerative Medicine is designated the “board.”
Terms Used In California Health and Safety Code 125291.40
- Act: means the California Stem Cell Research and Cures Bond Act constituting Chapter 3 (commencing with Section 125290. See California Health and Safety Code 125291.15
- Committee: means the California Stem Cell Research and Cures Finance Committee created pursuant to subdivision (a) of Section 125291. See California Health and Safety Code 125291.15
- Director: means "State Director of Health Services. See California Health and Safety Code 21
- institute: means the California Institute for Regenerative Medicine designated in accordance with subdivision (b) of Section 125291. See California Health and Safety Code 125291.15
- Interim debt: means any interim loans pursuant to Sections 125291. See California Health and Safety Code 125291.15
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Oversight: Committee review of the activities of a Federal agency or program.
- State: means the State of California, unless applied to the different parts of the United States. See California Health and Safety Code 23
(Added November 2, 2004, by initiative Proposition 71, Sec. 5.)