2009 California Public Utilities Code - Section 90520-90522 :: Article 7. Investments

90520.  The district may invest any surplus money in its treasury,
including money in any sinking fund, in any of the following:
   (a) Its own bonds.
   (b) Treasury notes, certificates of indebtedness, bills, bonds of
the United States, or any other evidence of indebtedness secured by
the full faith and credit of the United States.
   (c) Obligations issued pursuant to the Federal Home Loan Bank Act
(12 U.S.C. Sec. 1421) or the National Housing Act (12 U.S.C. Sec.
1701).
   (d) Treasury notes or bonds of this state, or of any public
corporation, municipal corporation, public district, or political
subdivision within this state which are legal as security for the
deposit of public funds.

90521.  Such investment may be made by direct purchase of any issue
of such bonds, treasury notes, or obligations, or part thereof, at
the original sale or by the subsequent purchase of the bonds,
treasury notes, or obligations.

90522.  Any bonds, treasury notes, or obligations purchased and held
as investments by the district may from time to time be sold and the
proceeds reinvested in bonds, treasury notes, or obligations as
provided in this article.