Section 484.6 Of Article 3. Provisions Of Resolution Of Issuance And Supplemental Resolutions From California Military And Veterans Code >> Division 2. >> Part 1. >> Chapter 10. >> Article 3.
484.6
. The State Treasurer shall act as trustee for the department
and the holders of the revenue bonds, to receive and disburse all the
revenues applicable to the payment of the principal of or interest
on the revenue bonds, including any reserve fund, sinking fund, or
other fund or account established for further securing the revenue
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 the rights of holders of the revenue bonds if,
and in the manner and under conditions provided in the resolution
authorizing the revenue bonds, such trustee is a bank or trust
company duly qualified to do business in this state.