Infrastructure financing.

Under the Bergeson-Peace Infrastructure and Economic Development Bank Act, the California Infrastructure and Economic Development Bank is established within the Governor's Office of Business and Economic Development with a board of directors having specified duties. The act authorizes the bank to, among other things, issue revenue bonds for the purpose of financing projects, as defined, that relate to infrastructure improvements or to authorize a special purpose trust to issue bonds for the purpose of making loans to a sponsor to be used by a sponsor to pay for the cost of a project. That act allows the bank to give final approval for those actions upon terms it deems necessary or desirable. This bill would make a nonsubstantive change to that latter provision.