California Government Code

§ 16430

GOV § 16430 Effective Jan 1, 2023Div. 4 · Title 2 · Part 2 · Ch. 3 · Art. 1

Statute text

Eligible securities for the investment of surplus moneys shall be any of the following:

(a)Bonds or interest-bearing notes or obligations of the United States, or those for which the faith and credit of the United States are pledged for the payment of principal and interest.

(b)Bonds or interest-bearing notes or obligations that are issued by or fully guaranteed as to principal and interest by a federal agency or a United States government-sponsored enterprise, as defined by the Omnibus Budget Reconciliation Act of 1990 (Sec. 13112, Public Law 101-508; 2 U.S.C. Sec. 622(8)).

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Legislative history

Amended by Stats. 2022, Ch. 126, Sec. 1. (AB 2332) Effective January 1, 2023.