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Division 2 — Financing Projects

§ 28-23. Trust indenture to secure bonds.

Cypress Planning Code · 2026-07 edition · updated 2026-07-25 · Cypress

In the discretion of the city, any bonds issued under this article may be secured by a trust indenture between the city and a corporate trustee or trustees, which may be any trust company or bank having the powers of a trust company in the state or in another state. Such trust indenture or the resolution providing for the issuance of such bonds may pledge or assign the revenues to be received or the proceeds of any contract or contracts pledged and may convey or mortgage the project or any portion thereof. Such trust indenture or resolution providing for the issuance of such bonds may contain such provisions for protecting and enforcing the rights

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City of Cypress, CA

ECONOMIC DEVELOPMENT

§ 28-23

§ 28-25

and remedies of the bondholders as may be reasonable, proper and not in violation of law. Any such trust indenture may set forth the rights and remedies of the bondholders and of the trustee or trustees and may restrict the individual right of action by bondholders. In addition, any such trust indenture may contain such other provisions as the city may deem reasonable and proper for the security of the bondholders.

All expenses incurred in carrying out such trust indenture may be treated as a part of the cost of the operation of a project.

(Ord. No. 729, § 1, 6-11-84)

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▸ Contents — Cypress Planning Code
Cypress Planning Code
  1. Chapter 25
  2. Chapter 28
  3. Division 1 — Generally
  4. ▸ Division 2 — Financing Projects
    Overview
    1. § 28-6. Loans for projects.
    2. § 28-7. Sale or lease of project by city.
    3. § 28-8. Loan agreements.
    4. § 28-9. Fees.
    5. § 28-10. Rents and charges.
    6. § 28-11. Security for loans.
    7. § 28-12. Employment of experts and consultants.
    8. § 28-13. Public works requirements inapplicable.
    9. § 28-14. Additional powers.
    10. § 28-15. Rules and regulations.
    11. § 28-20. Issuance of bonds.
    12. § 28-21. Bonds not debt of city.
    13. § 28-22. Type, form and sale of bonds.
    14. § 28-23. Trust indenture to secure bonds.
    15. § 28-24. Terms of resolution or indenture.
    16. § 28-25. Security for the bonds.
    17. § 28-26. Insurance or guarantee of payment.
    18. § 28-27. No personal liability.
    19. § 28-28. Refunding bonds.
    20. § 28-29. Pledge of revenues, money or property.
    21. § 28-30. Purchase of bonds by city.
    22. § 28-31. Actions by bondholders.
    23. § 28-32. Bond anticipation notes.
    24. § 28-39 Division 4 Applications
  5. Division 4 — Applications
  6. Division 5 — Supplemental Provisions

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