California § 53595.30. 53595.30. (Added by Stats. 1993, Ch. 902, Sec. 1.)

California Statutes

§ 53595.30. — 53595.30. (Added by Stats. 1993, Ch. 902, Sec. 1.)

California·Code GOV Government Code - GOV·Div. 2.·Title 5. DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES·Part 1. PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES·Ch. 3. CHAPTER 3. Bonds·Art. 13. ARTICLE 13. Collateralized Borrowing

(a)All moneys received pursuant to this article and pledged to the payment of any class, series, or issue of debt instruments, whether as tax increment revenues or from any other source, shall be deemed to be trust funds to be held and applied solely as provided in this article. Until the funds are applied as provided by this article, and notwithstanding any other provision of law, the moneys may be invested in obligations or securities authorized by resolutions of the legislative body of the local agency authorizing the issuance of debt instruments.

(b)Any officer with whom, or any bank or trust company with which, the moneys are deposited shall act as trustee of the moneys and shall hold and apply the moneys for the purpose of this article, subject to any regulations of the local agenc

Free access — add to your briefcase to read the full text and ask questions with AI

(a)
All moneys received pursuant to this article and pledged to the payment of any class, series, or issue of debt instruments, whether as tax increment revenues or from any other source, shall be deemed to be trust funds to be held and applied solely as provided in this article. Until the funds are applied as provided by this article, and notwithstanding any other provision of law, the moneys may be invested in obligations or securities authorized by resolutions of the legislative body of the local agency authorizing the issuance of debt instruments.
(b)
Any officer with whom, or any bank or trust company with which, the moneys are deposited shall act as trustee of the moneys and shall hold and apply the moneys for the purpose of this article, subject to any regulations of the local agency adopted pursuant to this article and the indenture securing the bonds.

California § 53595.30. (53595.30. (Added by Stats. 1993, Ch. 902, Sec. 1.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.