2009 California Government Code - Section 13451 :: Article 1. General

13451.  At any sale of bonds by the Treasurer the director may
become a bidder and purchase bonds with the funds at his disposal.
The appropriate transfer of funds shall be made by the Controller and
Treasurer on the books of their offices.
   No purchase of bonds shall be completed by the director until the
Attorney General has approved the validity of the issue.
   No certified check, bond or other assurance in law shall be
required from the director or the State upon a bid made by the
director under this section.