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HomeEducation CodeDiv. 7Pt. 49Ch. 5§ 81960 Bondholder Enforcement Rights

§ 81960 Bondholder Enforcement Rights

Education Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 81960 Bondholder Enforcement Rights

Key Takeaways

  • •If someone owns a bond issued under this law, they can make sure the people in charge do their jobs.
  • •This includes things like building, fixing, or running a project, and handling the money from it.
  • •If the people in charge don't do their jobs, the bond holder can take legal action to make them do it.
  • •The bond holder can also use other legal ways to protect their rights, not just the ones listed here.

Example

Imagine a company sells bonds to build a new park. The company is supposed to use the bond money to build and maintain the park, and also to collect and manage the money from park fees.

If the company doesn't build the park or doesn't take care of it, the people who bought the bonds can go to court to make the company do what they promised. They can also use other legal ways to get their money back or fix the problem.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source
View on CA.gov

§ 81960 Bondholder Enforcement Rights

The holder of any bond issued pursuant to this chapter may by mandamus or other appropriate proceeding require and compel the performance of any of the duties imposed upon the board or upon any official or employee or assumed by any thereof, in connection with the acquisition, construction, operation, maintenance, repair, reconstruction, or insurance of any project, or the collection, deposit, investment, application, and disbursement of rents, rates, charges, fees, and all other revenues derived from the operation and use of any project or in connection with the deposit, investment, and disbursement of the proceeds received from the sale of bonds under this chapter. The enumeration of such rights and remedies do not, however, exclude the exercise or prosecution of any other rights or remedies available to the holders of bonds issued pursuant to this chapter. (Added by Stats. 1982, Ch. 251, Sec. 28. Effective June 11, 1982. Operative July 1, 1982, by Sec. 47 of Ch. 251.)

Last verified: January 23, 2026

Key Terms

acquisitioninsuranceperformanceemployeeconnectionoperationinvestmentdisbursement

Related Statutes

  • § 92491 Bondholder Enforcement Rights
  • § 90072 Bondholder Enforcement Rights
  • § 72507 Community College Insurance Option
  • § 74265.5 District Formation Asset Transfer
  • § 81943 Bond Investment And Security

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Education Code. Section 81960.
View Official Source