§ 5920
68 words·~1 min read·
/ca/government-code/5920A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The Legislature finds and declares that the incurring or carrying of obligations and making and managing of investments by state and local governments involves a variety of interest rates, payment, and other risks, that a number of financial instruments are available to offset, hedge, or reduce, and improve net costs, and that many state agencies and local governments lack express statutory authority to take advantage of those instruments.