California Government Code 14554.4 – Any notes issued under this chapter may be secured by a trust …
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Any notes issued under this chapter may be secured by a trust agreement, indenture, or resolution by and between the commission and a trustee. The trustee may be the Treasurer or a bank or trust company chartered under the laws of this state or of the United States and designated by the Treasurer. The Treasurer may act under the note resolution as the fiscal agent for the notes.
(Added by Stats. 1999, Ch. 862, Sec. 3. Effective January 1, 2000.)
Terms Used In California Government Code 14554.4
- Commission: means the California Transportation Commission. See California Government Code 14501
- State: means the State of California, unless applied to the different parts of the United States. See California Government Code 18
- Trustee: A person or institution holding and administering property in trust.