Article 7 - Investments - California Public Utilities Code

Sections (4)

Amended by Stats. 1978, Ch. 415.

A district may invest any surplus money in its treasury, including money in any sinking fund, in any of the following:

(a)Its own bonds.

(b)Treasury notes, certificates of indebtedness, bills, bonds of the United States, or any other evidence of indebtedness secured by the full faith and credit of the United States.

(c)Obligations issued pursuant to the Federal Home Loan Bank Act or the National Housing Act.

(d)Treasury notes or bonds of this state, or of any public corporation, municipal corporation, public district, or political subdivision within this state which are legal as security for the deposit of public funds.

(e)In any investment or deposit in which a city, county, or local public agency may place its funds pursuant to law.

§ 25872

Added by Stats. 1955, Ch. 1036.

Such investment may be made by direct purchase of any issue of such bonds, treasury notes, or obligations, or part thereof, at the original sale or by the subsequent purchase of the bonds, treasury notes, or obligations.

§ 25873

Added by Stats. 1955, Ch. 1036.

Any bonds, treasury notes, or obligations purchased and held as investments by the district may from time to time be sold and the proceeds reinvested in bonds, treasury notes, or obligations as provided in this article.

§ 25874

Added by Stats. 1955, Ch. 1036.

Sales of any bonds, treasury notes, or obligations purchased and held by the district shall from time to time be made in season so that the proceeds may be applied to the purposes for which the money with which the bonds, treasury notes, or obligations were originally purchased was placed in the treasury of the district.