SECTIONS 54550-54552 - California Statutes

GOVERNMENT CODE

SECTION 54550-54552

54550. In connection with the issuance of bonds a local agency may
appoint a fiscal agent.

54551. The local agency may:
(a) Provide for the powers, duties, functions, and compensation of
the fiscal agent.
(b) Limit the liabilities of the fiscal agent.
(c) Prescribe a method for his resignation and removal, and the
merger or consolidation of fiscal agents.
(d) Prescribe a method for the appointment of a successor fiscal
agent and the transfer of rights and properties to the successor.

54552. The local agency may authorize the fiscal agent to receive,
collect, hold, or disburse revenues collected from the enterprise for
or on account of the local agency or any other funds required to be
pledged or otherwise made available as security for payment of the
principal of and interest on the bonds, and to apply such revenues
and other funds as provided in the resolution authorizing the
issuance of the bonds.