Section 33658 Of Article 5. Agency Bonds From California Health And Safety Code >> Division 24. >> Part 1. >> Chapter 6. >> Article 5.
33658
. An agency may:
(a) Vest in a trustee or the holders of bonds or any proportion of
them the right to enforce the payment of the bonds or any covenants
securing or relating to the bonds.
(b) Vest in a trustee the right, in the event of a default by the
agency, to take possession of all or part of any redevelopment
project, to collect the rents and revenues arising from it and to
dispose of such money pursuant to the agreement of the agency with
the trustee.
(c) Provide for the powers and duties of a trustee and limit his
liabilities.
(d) Provide the terms and conditions upon which the trustee or the
holders of bonds or any proportion of them may enforce any covenant
or rights securing or relating to the bonds.