Any proceeds of sale of any refunding bonds may be deposited in escrow or trust with any bank or trust company within or without the state, or both within and without the state, shall be secured in accordance with the laws applicable to funds of the city and shall be invested in federal securities.
Cal. Sts. & High. Code § 9615
Issuance of Refunding Bonds
Known as the Refunding Act of 1984 for 1915 Improvement Act
The act spans §§ 9500–9707 (83 sections).
Added by Stats. 1984, Ch. 496, 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.