§ 9058
57 words·~1 min read·
/ca/streets-and-highways-code/9058A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The bonds to be refunded may be deposited with the city treasurer or with any duly incorporated bank or trust company doing business in the State, which shall act as depository or escrow holder, as may be designated by contract between the city and the bondholders. The terms of the escrow shall be provided in the contract.