SECTIONS 31335-31339 - California Statutes

WATER CODE

SECTION 31335-31339

31335. As used in this article "surplus money" means any money in
any sinking fund established for the purpose of payment of any bonded
or other indebtedness or any money in the treasury not required for
the immediate necessities of the district.

31336. A district may invest such surplus money, as its board deems
wise or expedient in any of the following:
(a) Bonds issued by the district.
(b) Bonds issued by any school district any part of which is in a
county containing any part of the county water district.
(c) Bonds issued by the State.
(d) Bonds issued by the United States.
(e) Registered warrants issued by the State.

31337. The investment may be made by purchase of the bonds or
registered warrants or part thereof at the original sale or by
purchase after they have been thus issued.

31338. Any bonds or registered warrants purchased pursuant to this
article and held may, from time to time, be sold and the proceeds
reinvested pursuant to this article.

31339. Sales of bonds or registered warrants purchased pursuant to
this article and held shall be made in season so that the proceeds
may be applied to the purposes for which the money with which the
bonds or registered warrants were originally purchased was placed in
the treasury of the district.