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2019 California Code
Government Code - GOV
TITLE 5 - LOCAL AGENCIES
DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES
PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES
CHAPTER 2.5 - The Mello-Roos Community Facilities Act of 1982
ARTICLE 5 - Bonds
Section 53356.03.
Universal Citation: CA Govt Code § 53356.03 (2019)
53356.03.
The proceeds of any bond, note, or other security issued pursuant to this chapter, or the proceeds of any bond, note, or other security issued pursuant to any other authority where revenue collected pursuant to this chapter is pledged or otherwise committed to pay or repay principal, interest, or both, shall be deposited or invested only in one or more of the instruments, securities, or obligations that are eligible legal investments of the local agency.
(Amended by Stats. 1997, Ch. 204, Sec. 1. Effective January 1, 1998.)
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