California Health and Safety Code

§ 33658

HSC § 33658Div. 24 · Part 1 · Ch. 6 · Art. 5

Statute text

An agency may:

(a)Vest in a trustee or the holders of bonds or any proportion of them the right to enforce the payment of the bonds or any covenants securing or relating to the bonds.

(b)Vest in a trustee the right, in the event of a default by the agency, to take possession of all or part of any redevelopment project, to collect the rents and revenues arising from it and to dispose of such money pursuant to the agreement of the agency with the trustee.

…

Legislative history

Added by Stats. 1963, Ch. 1812.