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Section 15838.5 Of Chapter 5. Revenue Bonds From California Government Code >> Division 3. >> Title 2. >> Part 10b. >> Chapter 5.
15838.5
. (a) The Treasurer may be appointed to act as trustee for
the board and the holders of its bonds. Any resolution authorizing
any bonds or issue thereof shall prescribe the duties of the
Treasurer with respect to the issuance, authentication, sale, and
delivery of the bonds, the payment of principal and interest thereon,
and the redemption of the bonds.
(b) The board may provide by resolution for the deposit of all revenue pledged for the security of such bonds in one or more separate accounts in the Public Buildings Construction Fund under the control of the Treasurer as trustee. The money in the accounts shall be disbursed only as provided in the resolution.
(c) The board may authorize the Treasurer to act as trustee on behalf of the holders of its bonds, or any stated percentage thereof, for the purpose of exercising and prosecuting on behalf of the holders of the bonds the rights and remedies as may be available to the holders.
(b) The board may provide by resolution for the deposit of all revenue pledged for the security of such bonds in one or more separate accounts in the Public Buildings Construction Fund under the control of the Treasurer as trustee. The money in the accounts shall be disbursed only as provided in the resolution.
(c) The board may authorize the Treasurer to act as trustee on behalf of the holders of its bonds, or any stated percentage thereof, for the purpose of exercising and prosecuting on behalf of the holders of the bonds the rights and remedies as may be available to the holders.
