If is a topological dynamical system, where is a compact Hausdorff space and is a homeomorphism of , then a crossed product Banach -algebra is naturally associated with these data. If consists of one point, then is the group algebra of the integers. The commutant of in is known to be a maximal abelian subalgebra which has non-zero intersection with each non-zero closed ideal, and the same holds for the commutant of in , the enveloping -algebra of . This intersection property has proven to be a valuable tool in investigating these algebras. Motivated by this pivotal role, we study and in detail in the present paper. The maximal ideal space of is described explicitly, and is seen to coincide with its pure state space and to be a topological quotient of . We show that is hermitian and semisimple, and that its enveloping -algebra is . Furthermore, we establish necessary and sufficient conditions for projections onto and to exist, and give explicit formulas for such projections, which we show to be unique. In the appendix, topological results for the periodic points of a homeomorphism of a locally compact Hausdorff space are given.

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