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HomeEducation CodeDiv. 9Pt. 57Ch. 5Art. 3§ 92491 Bondholder Enforcement Rights

§ 92491 Bondholder Enforcement Rights

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

§ 92491 Bondholder Enforcement Rights

Key Takeaways

  • •If someone in charge of a big project (like building a school or hospital) doesn't do their job, the people who lent money for the project can make them do it.
  • •The people who lent money can also make sure the money from the project (like fees or rent) is used the right way.
  • •If the people in charge don't follow the rules, the people who lent money can take them to court to fix it.

Example

A university builds a new dorm with money from bonds, but then doesn't use the dorm fees to pay back the bond holders like they promised.

The people who bought the bonds can go to court and make the university use the dorm fees to pay them back, like they were supposed to.

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

Official Source
View on CA.gov

§ 92491 Bondholder Enforcement Rights

Except as provided otherwise in any indenture, 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 regents or upon any official or employee or assumed by the regents or any official or employee, 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 pursuant to this chapter. The enumeration of such rights and remedies does not, however, exclude the exercise or prosecution of any other rights or remedies available to the holders of bonds issued pursuant to this chapter. (Enacted by Stats. 1976, Ch. 1010.)

Last verified: January 23, 2026

Key Terms

acquisitioninsuranceperformanceemployeeconnectionoperationinvestmentdisbursement

Related Statutes

  • § 81960 Bondholder Enforcement Rights
  • § 90072 Bondholder Enforcement Rights
  • § 92492 Bond Investment And Security
  • § 72507 Community College Insurance Option
  • § 74265.5 District Formation Asset Transfer

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Education Code. Section 92491.
View Official Source