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Fox named to California Debt and Investment Advisory Commission

Posted: February 14, 2013 5:14 p.m.
Updated: February 14, 2013 5:14 p.m.

(SACRAMENTO)—Assemblymember Steve Fox (D-Palmdale) announced today that he has been named as a member of the California Debt and Investment Advisory Commission (CDIAC).  In addition to serving on the commission, Fox also serves on the committees for Higher Education, Veterans’ Affairs and Jobs, Economic Development and the Economy, and chairs the Select Committee on Community Colleges.

“It is an honor to be selected for this commission,” said Assemblymember Fox. “I take the state’s economic recovery very seriously and I am looking forward to participating in the process of assisting local governments in prudently managing public debt and investment.”

The Debt and Investment Advisory Commission is a nine-member panel that supports state and local governments in the processes associated with the way governments take money in, invest, borrow, and meet debt obligations. The Commission, chaired by State Treasurer Bill Lockyer, also includes Governor Jerry Brown, State Controller John Chang, San Francisco Treasurer José Cisneros, San Diego Chief Operating Officer Jay Goldstone, State Senator Carol Liu, and Assemblymember Henry Perea.

The Commission serves local and state entities by providing educational seminars and publications.  Its website also provides access to forms, informational resources, access to public records, open government statements, and a database providing state and local bond information. The stated goal of the Commission is to improve public finance practices in the state by providing “responsive and reliable information, education, and guidance.”

“In this economic climate, Californians are much more concerned about the ways in which their local leaders are using public money,” Fox said. “People have not forgotten what led to the Great Recession and they fully understand the need to make safe investments for the future. I am glad to be given this opportunity to positively protect the public interest and I look forward to my work with this commission,” Fox concluded.

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