The governing board of any school district or any county office of education which has funds in a special reserve fund of the district or county office of education or any surplus moneys not required for the immediate necessities of the district or county office of education, is hereby authorized to invest all or any part of the funds in any of the investments specified in Section 16430 or 53601 of the Government Code.
Cal. Educ. Code § 41015
Accounting Regulations, Budget Controls and Audits
Applied in 1 court decision — leading case 87 Cal. App. 4th 574 - WHITMORE UNION ELEMENTARY SCHOOL DIST. v. County of Shasta (2001)
Most recently applied in 87 Cal. App. 4th 574 - WHITMORE UNION ELEMENTARY SCHOOL DIST. v. County of Shasta (May 2001)
Amended by Stats. 1987, Ch. 198, Sec. 1.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.