Section 53572 Of Article 10. Refunding Of Revenue Bonds Of Local Agencies From California Government Code >> Division 2. >> Title 5. >> Part 1. >> Chapter 3. >> Article 10.
53572
. In connection with the issuance of bonds under any law
permitting the issuance of refunding bonds, a local agency may
declare the proceeds of such refunding bonds to be a revenue
producing public facility, including an enterprise under the Revenue
Bond Law of 1941, or may declare such proceeds to be part of such
revenue producing public facility or enterprise or may otherwise
declare such proceeds to be held, in whole or in part, and for such
time as the local agency may deem advisable, in trust for the
protection of holders of the bonds or of the refunding bonds.