Section 1002.28 Of Article 3. Provisions Of Resolutions Of Issuance And Supplemental Resolutions From California Military And Veterans Code >> Division 4. >> Chapter 7. >> Article 3.
1002.28
. The State Treasurer shall act as trustee for the
department and the holders of its bonds, to receive and disburse all
the revenues applicable to the payment of the principal of or
interest on the bonds, including any reserve fund, sinking fund or
other fund established for the further securing of the bonds. The
department may provide in any resolution of issuance for the
appointment of a trustee, other than the State Treasurer, to
represent and enforce rights of holders of bonds of the department
if, and in the manner and under conditions, provided in the
resolution authorizing the bonds, such trustee shall be a bank or
trust company duly qualified to do business in this state.