§ 99344 Bondholder Enforcement Terms

• •This law lets a transportation planning group set rules for people who own bonds.
• •If bond owners don’t follow the rules, the group can decide how to make them follow.
• •A certain percentage of bond owners can team up to enforce these rules.

Imagine a group of people who lent money to build a new highway. The transportation agency makes rules for them, like how the money should be paid back.

If some of these lenders don’t follow the rules, the agency can let a group of them (like 51% or more) work together to make sure everyone follows the rules.