California Public Utilities Code 25871 – A district may invest any surplus money in its treasury, including …
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.
Terms Used In California Public Utilities Code 25871
- City: includes city and county and "incorporated town" but does not include "unincorporated town" or "village. See California Public Utilities Code 19
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- County: includes city and county. See California Public Utilities Code 18
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- State: means the State of California, unless applied to the different parts of the United States. See California Public Utilities Code 17
(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.
(Amended by Stats. 1978, Ch. 415.)