2005 California Military and Veterans Code Sections 1002.1-1002.28 Supplemental Resolutions

1002.1.  A resolution of issuance may provide for the issuance of
debentures in one or more series and for the aggregate principal
amount of any series thereof.  Any series of debentures may consist
of serial debentures or of term debentures with sinking fund
requirements or partially of serial debentures and partially of term
debentures with sinking fund requirements.  A resolution of issuance
may provide for such supplemental resolutions of issuance as may from
time to time be required to fix and determine the terms and
conditions of each series of debentures.
1002.2.  A resolution of issuance may provide for the dates to be
borne by debentures, and by each series, issued thereunder and for
the dates of maturity thereof.
1002.3.  A resolution of issuance may provide for the payment of
interest on debentures annually or semiannually or in part annually
and in part semiannually, upon such dates and at such rates as may be
provided for by the Veterans' Debenture Finance Committee.  The
first interest payment may be at any time on or before one year from
the date of the debenture.
1002.4.  A resolution of issuance may provide for the call and
redemption of debentures issued thereunder, upon such terms,
conditions and notice, and upon the payment of such premium, as may
be fixed in said resolution.  No debenture shall be subject to call
or redemption prior to its fixed maturity date unless the right to
exercise such call is expressly stated on the face of the debenture.
1002.5.  A resolution of issuance may provide for the forms,
denominations, registration, transfer and interchange of debentures
issued thereunder.  Debentures may be issued as coupon debentures or
as registered debentures in any denomination or denominations
authorized by the resolution of issuance.  A resolution of issuance
may provide for the interchange of coupon debentures for registered
debentures and of registered debentures for coupon debentures, and
may provide for the registration of coupon debentures as to principal
only or as to both principal and interest.  Debentures of different
denominations, in either coupon or registered form, may be made
exchangeable for debentures of an equal aggregate principal amount,
but of different denominations upon such terms as may be provided in
the resolution of issuance.
1002.6.  A resolution of issuance may provide for the replacement of
lost, destroyed or mutilated debentures or coupons.
1002.7.  A resolution of issuance may provide for the issuance of
temporary or interim debentures, certificates or receipts pending the
preparation and delivery of definitive debentures.  Such temporary
or interim debentures, certificates or receipts may be of any
denomination and with or without coupons.
1002.8.  A resolution of issuance may provide for the payment of the
principal and interest of debentures at any place within or without
the State of California and in specified coin or currency of the
United States and may include a covenant to maintain, in each city in
which any outstanding debentures shall be expressed to be payable,
an office or agency where such debentures and interest coupons
thereon may be presented for payment.
1002.9.  A resolution of issuance shall provide the means by which
payments of principal and interest of debentures shall be secured.
1002.10.  A resolution of issuance may include a provision requiring
the department to pay or cause to be paid punctually the principal
of all debentures issued thereunder and the interest thereon, on the
dates, at the places and in the manner provided in such debentures
and in the coupons appertaining thereto.
1002.11.  A resolution of issuance may include a provision requiring
the department to preserve and protect the security of the
debentures and the rights of the holders thereof and to warrant and
defend such rights.
1002.12.  A resolution of issuance may include provisions which
limit, restrict or prohibit any right, power or privilege of the
department to create or give any mortgage, lien or pledge on any
personal or real property acquired by the department out of moneys in
the Veterans' Farm and Home Building Fund of 1970, or upon the
pledged contracts or upon any other revenues.
1002.13.  A resolution of issuance may include provisions requiring,
specifying or limiting the kind, amount and character of insurance
to be maintained by the department on any property under the
jurisdiction of the department and the use and disposition of the
proceeds of any such insurance thereafter collected.
1002.14.  A resolution of issuance may include a provision requiring
the department to charge a uniform rate of interest on the unpaid
balance of the purchase price of any and all properties acquired by
the department and sold to veterans under this act.
1002.15.  A resolution of issuance may include provisions requiring
the department to hold or cause to be held in trust the revenues, or
any part of the revenues, pledged to the payment of debentures and
the interest thereon, and to apply or cause to be applied revenues or
such part of revenues, only as provided in the resolution of
issuance.
1002.16.  A resolution of issuance may include provisions defining
the power of the department in applying the proceeds of the sale of
any debentures.
1002.17.  A resolution of issuance may include a provision
authorizing, or limiting the power of, the department to issue
additional debentures and establishing the terms and conditions upon
which additional debentures may be issued.
1002.18.  A resolution of issuance may include a clause providing
the events of default and the terms and conditions upon which any or
all of the debentures then or thereafter issued may become or be
declared due and payable prior to maturity, and the terms and
conditions upon which such declaration and its consequences may be
waived.
1002.19.  A resolution of issuance may include provisions
establishing the rights, powers and duties arising upon breach by the
department of any of the covenants, conditions or obligations
contained therein.
1002.20.  A resolution of issuance may include provisions
prescribing a procedure by which the terms and conditions of the
resolution may be subsequently amended or modified with the consent
of the department and the Veterans' Debenture Finance Committee and
the vote or written consent of the holders of a specified principal
amount or specified proportion of the debentures issued and
outstanding.  Such provisions may include provisions for meetings of
debenture holders and for the manner in which the consent of the
debenture holders may be given.  A resolution of issuance may provide
that debentures held by the department or by the State of California
or any political subdivision, public corporation or agency thereof
shall not be counted as outstanding debentures or be entitled to vote
or consent, but shall nevertheless be subject to any such
modification or amendment.
1002.21.  A resolution of issuance may provide that the debentures
issued thereunder and the interest thereon shall be secured by all or
part of the revenues, and may establish a lien upon the revenues as
the department, with the approval of the Veterans' Debenture Finance
Committee, shall determine.
1002.22.  A resolution of issuance may include a covenant that the
department will duly pay and discharge, or cause to be paid and
discharged, any taxes, assessments or other governmental charges
lawfully imposed upon any properties owned by or under the
jurisdiction of the department, or upon the revenues, as well as any
lawful claim for labor, materials or supplies which, if unpaid, might
become a lien or charge upon the revenues, or which might impair the
security of the debentures.
1002.23.  A resolution of issuance may include provisions requiring
the preparation, filing and publication of financial statements with
respect to the revenues, the funds securing the debentures and the
expenses, properties and operations of the department, including
provisions for examinations and reports by independent certified
public accountants.
1002.24.  A resolution of issuance may include a covenant that the
department will at all times use its best efforts to maintain the
powers, functions, duties and obligations reposed in it pursuant to
law at the time of adoption of such resolution, and that it will not
at any time voluntarily do, suffer or permit any act or thing, the
effect of which would be to hinder, delay or imperil the payment of
the indebtedness evidenced by any of the debentures or the
performance or observance of any of the covenants contained in such
resolution.
1002.25.  A resolution of issuance may include provisions requiring,
permitting, restricting or governing the deposit and investment of
funds established for the security of debentures issued thereunder,
and requiring that such deposits be secured or specifying the type of
security required for such deposits irrespective of any law
authorizing or permitting such deposit or investment of public funds
generally.
1002.26.  A resolution of issuance may include a covenant that the
department will make or adopt and execute, or cause to be made,
adopted and executed, any and all such further resolutions, acts,
deeds, conveyances, assignments or assurances as may be reasonably
required for effectuating the intention of the resolution of issuance
and for better assuring and confirming unto the holders of the
debentures the rights and benefits provided in the resolution of
issuance.
1002.27.  A resolution of issuance may include any and all covenants
and agreements on the part of the department, and for such other
acts or matters which the department, subject to the approval of the
Veterans' Debenture Finance Committee, deems necessary or convenient
or advisable for the better security of the debentures issued
thereunder or to make the debentures more marketable.
1002.28.  The State Treasurer shall act as trustee for the
department and the holders of its bonds, to receive and disburse all
the revenues applicable to the payment of the principal of or
interest on the bonds, including any reserve fund, sinking fund or
other fund established for the further securing of the bonds.  The
department may provide in any resolution of issuance for the
appointment of a trustee, other than the State Treasurer, to
represent and enforce rights of holders of bonds of the department
if, and in the manner and under conditions, provided in the
resolution authorizing the bonds, such trustee shall be a bank or
trust company duly qualified to do business in this state.