California Statutes
§ 15838.5. — 15838.5. (Added by Stats. 1982, Ch. 1523, Sec. 11.)
California·Code GOV Government Code - GOV·Div. 3.·Title 2. DIVISION 3. EXECUTIVE DEPARTMENT·Part 10b. PART 10b. STATE BUILDING CONSTRUCTION·Ch. 5. CHAPTER 5. Revenue Bonds
(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 the
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California § 15838.5. (15838.5. (Added by Stats. 1982, Ch. 1523, Sec. 11.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Added by Stats. 1982, Ch. 1523, Sec. 11. Effective September 30, 1982.