 |
California Law (Last Updated: March 4, 2014) |
 |
Government Code - GOV |
|
Title 2. GOVERNMENT OF THE STATE OF CALIFORNIA |
|
Division 3. EXECUTIVE DEPARTMENT |
|
Part 5.5. DEPARTMENT OF GENERAL SERVICES |
|
Chapter 9. Golden State Financial Marketplace Program (GS $Mart Program) |
Section 14934.
-
(a) Notwithstanding any other law, state agencies that are statutorily authorized to acquire assets listed in subdivision (b) are hereby eligible to apply to the GS $Mart Program to enter into agreements for financing those assets without further competitive bidding.
(b) (1) Assets eligible for financing pursuant to the GS $Mart Program include all of the following:
(A) Energy efficiency measures as described in Section 4217.11 or energy savings contracts as described in Section 388 of the Public Utilities Code.
(B) Goods as defined in Section 10290 of the Public Contract Code.
(C) Services as described in Section 10335 of the Public Contract Code.
(D) Technology goods or services as described in Section 11532 or information technology as defined in paragraph (2) that are capital assets eligible for tax exempt financing consistent with the Internal Revenue Code as confirmed by an opinion of bond counsel, as described in paragraph (3) of subdivision (a) of Section 14936.
(2) Information technology includes, but is not limited to, all electronic technology systems and services, automated information handling, system design and analysis, conversion of data, computer programming, information storage and retrieval, telecommunications, including voice, video, and data communications, requisite system controls, simulation, electronic commerce, and all related interactions between people and machines.
(c) State agencies may refinance any eligible asset through the GS $Mart Program for the purpose of lowering financing costs or consolidating payments, or when refinancing will achieve an overall benefit and cost savings to the state.
(d) The department shall annually provide a report by September 1 of each year to the Joint Legislative Budget Committee, the State Treasurer's Office, and the Department of Finance that shall include, but not be limited to, the following information for each loan entered into during the preceding fiscal year:
(1) Each agency that entered into a GS $Mart loan.
(2) The amount financed by each loan.
(3) The term of each loan.
(4) A description of the item, good, or service financed by each loan.
(5) The total amount of outstanding GS $Mart loans.