California § 55108 - Any resolution authorizing any bonds or issue thereof may designate a trustee for
Full text of California Public Contract Code - PCC § 55108 — Any resolution authorizing any bonds or issue thereof may designate a trustee for, with citation guidance and answers to common questions.
§ 55108. Any resolution authorizing any bonds or issue thereof may designate a trustee for
Any resolution authorizing any bonds or issue thereof may designate a trustee for the local agency and holders of its bonds, and shall in such case prescribe the duties of the trustee with respect to the issuance, authentication, sale, and delivery of the bonds, the payment of principal and interest thereof, and the redemption of bonds. The legislative body of the local agency may provide by a resolution for the deposit of all revenues pledged for the security of the bonds in one or more separate accounts under the control of the trustee. The money in the accounts shall be disbursed only as provided in the resolution. The resolution may authorize the trustee to act on behalf of the holders of bonds, or any stated percentage thereof, for the purpose of exercising and prosecuting on behalf of the holders of the bonds any rights and remedies as may be available to the holders.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 55108
What does Public Contract Code - PCC § 55108 cover?
Section 55108 ("Any resolution authorizing any bonds or issue thereof may designate a trustee for") is part of the Public Contract Code - PCC, the codified statutory law of California. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite California § 55108?
A common citation format is "Public Contract Code - PCC § 55108" (California). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of California law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the California official source linked on this page or consult a licensed California attorney.
How does California § 55108 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in California can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in California.