|The California Maritime Infrastructure Bank (not a commercial bank) and California Maritime Infrastructure Authority seek to ensure a flourishing maritime/marine industry in California, by providing port and harbor agencies with timely access to capital markets.|
An increasingly important financing vehicle for agencies is leasing and thus the Bank feels its tax-exempt leasing program offers a valuable addition to the services it offers.
|(not a commercial bank)|
California Maritime Infrastructure
Bank and Authority
4330 Cedar Street
Eureka, CA 95503
|Financing Port and Marina Infrastructure "Tomorrow's Ideas for Today" seminar...click here for details
The Bank was formed at the request of the California Marine Affairs and Navigation Conference (CMANC) and codified as Sections 6516.5 and 6571 of the Government Code and Part 1 (commencing with Section 1690) of Division 6 of the Harbors and Navigation Code of the State of California.
The Bank may also function as a Public Agency, under Code Section 1700, with its authority to establish one or more joint powers under State Law for the purpose of establishing an infrastructure fund for pooled financing of port or harbor infrastructure. This power enabled the Bank to form the California Maritime Infrastructure Authority. The Authority is a joint exercise of powers authority formed under and pursuant to Article 1 of Chapter 5 of Division 7 of Title 1 of the Government Code of the State of California and a joint exercise of powers agreement among the Authority’s member Districts.
The Authority can issue debt, establish and administer infrastructure funds, receive or administer public and private grants, and expend tax revenues, appropriated funds, and other financings on behalf of its member Districts.
© Copyright 2005 California Maritime Infrastructure Bank/Authority and Web Market Consulting.
All Rights Reserved. Half Moon Bay, California, USA.