§ 9466
55 words·~1 min read·
/ca/water-code/9466A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Whenever the drainage district has any money in the bond fund of any assessment which money is not immediately required for the purpose of paying principal or interest on bonds of the assessment, all or any part of it may be invested in bonds of the drainage district based upon and secured by the assessment.