Government Code section 67633

The commission shall, in any indenture, designate a trustee or fiscal agent, which shall be a bank or trust company, or banks or trust companies, duly qualified to do business in this state, to receive the proceeds of such bonds and to hold the same separate and apart from all other funds of the commission. Such moneys shall be paid out and disbursed as provided in the indenture.

Source: Section 67633, https://leginfo.­legislature.­ca.­gov/faces/codes_displaySection.­xhtml?lawCode=GOV§ionNum=67633.­ (updated Jan. 1, 1979; accessed Jul. 21, 2025).

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Verified:
Jul. 21, 2025

§ 67633's source at ca​.gov