California Streets and Highways Code 32511 – “Obligee of the authority” or “obligee” means any of the …
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“Obligee of the authority” or “obligee” means any of the following:
(a) Any bondholder or trustee for any bondholders.
Terms Used In California Streets and Highways Code 32511
- Contract: A legal written agreement that becomes binding when signed.
- Trustee: A person or institution holding and administering property in trust.
(b) Any lessor demising to the authority property used in connection with a parking facility or any assignee of all or part of such lessor’s interest.
(c) The State or the United States, or any agency of either, when a party to any contract with an authority by which aid or a loan is given or made to the authority.
(Added by Stats. 1951, Ch. 463.)