The legislative body may provide for the vesting in a trustee of the right to enforce covenants to secure payment of, or in relation to, the bonds and the trustee’s powers and duties, and the limitation of his or her liabilities.

(Added by Stats. 1985, Ch. 320, Sec. 2.)

Terms Used In California Government Code 50667.6

  • Legislative body: means the city council in the case of a city, and the board of supervisors in the case of a county. See California Government Code 50665.1
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Trustee: A person or institution holding and administering property in trust.
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