Section 43883 - Competitive Sales(a) Notices. If bonds are to be sold by competitive bid, the notice of sale shall: (1) Be delivered to all underwriters on the TBE List;(2) Contain, in substance, the following statement: "Firms owned by disabled veterans are encouraged to respond to this invitation for bid. The Trustees have adopted regulations and a participation goal for professional bond services firms owned by disabled veterans. All bidders must certify awareness of these regulations and goal. Successful bidders will be required to submit reports to the Trustees concerning TBE outreach efforts and professional bond service participation in transactions related to the offer and sale of the bonds that are the subject of this notice of sale."
(b) Bids. (1) The form for submitting bids shall contain, in substance, the following certification which shall be executed by the bidder: "Bidder certifies that bidder is aware of the Trustees' regulations and participation goal for TBE's offering professional bond services."(2) The Senior Managing Underwriter may make the certification required by subdivision (a) on behalf of the syndicate or selling group.(c) Goals for Competitive Contract. The Trustees' annual goal for TBE participation in competitive contracts for professional bond services shall be 3 percent for disabled veteran business enterprises for each of the professional bond services. This goal need not be met in every competitive bond transaction but will be pursued on an aggregate annual basis considering all competitive bond transactions during a year. This goal will also be described in each notice of sale for bonds to be sold by competitive bid.(d) Reports. The Senior Managing Underwriter in a competitive sale of bonds shall submit a written report regarding distribution of the underwriter's discount to the Trustees within 10 days of closing a transaction where the Senior Managing Underwriter's services were used.Cal. Code Regs. Tit. 5, § 43883
1. New section filed 2-7-91; operative 3-9-91 (Register 91, No. 33).
2. Amendment of section and NOTE filed 11-19-93; operative 11-19-93 pursuant to Government Code section 11346.2(d) (Register 93, No. 47).
3. Amendment of section and NOTE filed 11-27-2001; operative 11-27-2001. Submitted to OAL for printing only pursuant to Education Code section 89030.1 (Register 2002, No. 4). Note: Authority cited: Section 89030, Education Code; and Section 999.5(b), Military and Veterans Code. Reference: Section 89036, Education Code; and Section 999 et seq., Military and Veterans Code.
1. New section filed 2-7-91; operative 3-9-91 (Register 91, No. 33).
2. Amendment of section and Note filed 11-19-93; operative 11-19-93 pursuant to Government Code section 11346.2(d) (Register 93, No. 47).
3. Amendment of section and Note filed 11-27-2001; operative 11-27-2001. Submitted to OAL for printing only pursuant to Education Code section 89030.1 (Register 2002, No. 4).