SB 1509: State finance.

Existing law establishes the Treasurer as the sole agent for offering and selling state bonds. Existing law requires the Treasurer to develop and implement a competitive process for selection of underwriters and for negotiated offerings of bonds. Existing law exempts agreements entered into by the Treasurer in connection with the sale of any evidence of indebtedness pursuant to those provisions from provisions that otherwise govern state contracts for services in general or consulting services.

This bill would exempt the Treasurer from the Administrative Procedure Act when entering into agreements in connection with the sale and administration of any evidence of indebtedness, including the establishment of pools of eligible contractors, pursuant to those provisions.