Section 50734 Of Article 2. Revenue Bonds From California Government Code >> Division 1. >> Title 5. >> Part 1. >> Chapter 3.5. >> Article 2.

. The board may designate a bank or trust company, qualified to do business in this State, as a trustee for the holders of bonds issued hereunder, and may authorize the trustee to act on behalf of the holders of the bonds, or any stated percentage thereof, and to exercise and prosecute on behalf of the holders of the bonds such rights and remedies as may be available to the holders.