Section 489.1 Of Article 7. Remedies Of Revenue Bondholders From California Military And Veterans Code >> Division 2. >> Part 1. >> Chapter 10. >> Article 7.
489.1
. The department may, in any resolution of issuance, define
the events of default, including among other things, default in the
payment of the principal or interest upon or premium due upon any
revenue bonds or default by the department in the observance of any
of the covenants, agreements, or conditions on its part to be
performed under the resolution of issuance, and may provide that upon
the happening of any such event of default the holders of not less
than the majority in aggregate principal amount of the revenue bonds
at the time outstanding will be entitled to declare the principal of
all of the revenue bonds then outstanding and the interest accrued
thereon to be immediately due and payable.