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HomePublic Utilities CodeDiv. 11Ch. 6Art. 2§ 120653 Lease Agreement Conflict Rules

§ 120653 Lease Agreement Conflict Rules

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

§ 120653 Lease Agreement Conflict Rules

Key Takeaways

  • •Agreements or leases cannot break the rules set by the board's trust agreements.
  • •If there's a trust agreement for paying back money (like bonds), other deals can't mess with it.
  • •This is about keeping promises made in big money deals fair and clear.

Example

A company leases a building but also has a loan (bond) to pay for it.

The lease rules can't say something that breaks the loan rules. Like, the lease can't say 'you don't have to pay the loan' if the loan says you do.

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

Official Source
View on CA.gov

§ 120653 Lease Agreement Conflict Rules

The covenants, conditions, and provisions of the agreements, leases, and equipment trust certificates shall not conflict with any of the provisions of any trust agreement securing the payment of bonds, notes, or certificates of the board. (Added by Stats. 1983, Ch. 599, Sec. 2.)

Last verified: January 23, 2026

Key Terms

covenantsconditionsprovisionsagreementsleasesequipment trust certificatestrust agreementbondsnotescertificates

Related Statutes

  • § 105233 Lease Agreement Compliance Rules
  • § 25848 Lease Agreement Compliance Rules
  • § 100463 Vta Agreement Conflict Prohibition
  • § 102553 District Bond Agreement Compliance
  • § 103553 District Bond Agreement Compliance

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Public Utilities Code. Section 120653.
View Official Source