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Bond Finance Committees

Meetings are open to the public, and meeting notices and agendas will be posted ten days prior to each meeting.

Veterans' Finance Committee of 1943

The Veterans' Finance Committee of 1943 consists of the following people; the Governor of California, the California State Treasurer, the California State Controller, the Director of Finance for the State of California, and the Secretary of Veterans Affairs. The purpose of the committee is to authorize the issuance of Veterans General Obligation Bonds and Commercial Paper Notes, the issuance of which will be used to fund home loans for veterans across the state and/or to economically refund outstanding bonds at a lower borrowing cost. The bonds are issued with the authority given by the People of the State of California as voted on via a statewide ballot. The first source of payment of the bonds is the payments received on the home loans financed by the bonds and the Department's revenue bonds and certain investment income.  Only if such source is insufficient will the bonds be payable by the State of California.

Veterans' Debenture Finance Committee

The Veterans' Debenture Finance Committee consists of the following people; the Governor of California, the California State Treasurer, the California State Controller, the Director of Finance for the State of California, and the Secretary of Veterans Affairs. The purpose of the committee is to authorize the issuance of Department of Veterans Affairs of the State of California Home Purchase revenue bonds, the sale of which will be used to fund home loans for veterans across the state. The bonds are issued with the authority of the California Debt Limit Allocation Committee but are not an obligation of the State of California and as such no tax dollars are used to secure the bonds.

Veterans' Home Finance Committee

The Veterans' Home Finance Committee consists of the following people: the California State Treasurer, the California State Controller, the Director of Finance for the State of California, and the Secretary of Veterans Affairs. The purpose of the committee is to authorize the issuance of State of California General Obligation Bonds for designing and constructing veterans' homes in California and completing renovations when needed. The bonds are issued with the authority given by the People of the State of California as voted on via a statewide ballot.

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Bond Finance Committees