California Government Code 15839 – The board may enter into any deeds of trust, indentures, or other …
The board may enter into any deeds of trust, indentures, or other agreements with any bank or trust company, or other person in the United States having power to enter into such agreements, including any federal agency, as security for such bonds, and may assign and pledge the revenues, rentals, or receipts of the board thereunder. The deeds of trust, indentures, or other agreements may contain such provisions as are customary in the instruments, or as the board authorizes, including but without limiting provisions as to:
(a) The acquisition, construction, improvement, operation, maintenance and repair of any public buildings, and the duties of the board with reference thereto.
Terms Used In California Government Code 15839
- Board: means the State Public Works Board. See California Government Code 15802
- Construction: includes the extension, enlargement, repair, renovation, restoration, improvement, furnishing, and equipping of any public building. See California Government Code 15802
- Person: includes any person, firm, association, organization, partnership, limited liability company, business trust, corporation, or company. See California Government Code 17
- Trustee: A person or institution holding and administering property in trust.
(b) The application of funds and the safeguarding of funds on hand or on deposit.
(c) The rights and remedies of the trustee and the holders of the bonds, which may include restrictions upon the individual right of action of the bondholders.
(d) The terms and provisions of the bonds, or the resolutions authorizing the issuance of the bonds.
(Added by Stats. 1955, Ch. 1686.)