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Article 2. Disabled Veteran Business Enterprise Participation Goals for Professional Bond Services. Negotiated Sales.   

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(a) Goal. The statutory goal for professional bond services in connection with bonds sold in negotiated transactions need not be met in every individual contract for services but will be pursued on an aggregate annual basis considering all contracts for professional bond services during a year. Thus, during the course of a year, there may be contracts without TBE participation and contracts with TBEs as prime contractor or TBE participation substantially higher than the statutory goal.

(b) TBE Qualifications. TBEs shall be considered for only those contracts or participation in contracts commensurate with their experience, capital, and compliance with applicable licensing requirements.

(c) Reports. The Senior Managing Underwriter in a negotiated 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.

NOTE

Authority cited:

Education Code 89030

Military and Veterans Code Section 999.5(b)

Reference:

Education Code 89036

Military and Veterans Code 999 et seq.

(Amended by Register 2002, No. 4)