2021 California Code
Streets and Highways Code - SHC
DIVISION 18 - PARKING
PART 2 - PARKING LAW OF 1949
CHAPTER 3 - Powers
Section 32808.

32808.  

The authority may invest funds held in reserve, or sinking funds, or funds not required for immediate disbursement, in property or securities in which cities may legally invest funds subject to their control. No such investment shall be made in contravention of any covenant or agreement with the holders of any bonds of the authority issued and outstanding.

(Added by Stats. 1951, Ch. 463.)

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