§ 30730. — 30730. (Added by Stats. 1964, 1st Ex. Sess., Ch. 62.)

California § 30730.

• Jurisdiction: California
• Code PUC: Public Utilities Code - PUC
• Div. 10.: DIVISION 10. TRANSIT DISTRICTS
• Part 3.: PART 3. SOUTHERN CALIFORNIA RAPID TRANSIT DISTRICT
• Ch. 5.: CHAPTER 5. Powers and Functions of District
• Art. 8.: ARTICLE 8. Investments

Text

The board may, by resolution, order that any of the moneys in the funds under its control which are not necessary for current operating expenses be invested in any obligations, bonds or securities in which a county could invest such funds; provided, however, that (1) any such investments shall be made in such a manner that the moneys in such funds will be available at the times and in the amounts necessary to accomplish the purpose for which said funds were established, and (2) no such investment shall be made in contravention of any provision or covenant in any proceedings for the authorization and issuance of bonds, notes, contracts or other evidences of
indebtedness.

Legislative History

Added by Stats. 1964, 1st Ex. Sess., Ch. 62.