California Government Code ARTICLE 1 - Investment of Surplus

• Section 53600.
  As used in this article, “local agency” means county, city, city and county, including a chartered city or county, school district, community college district, public...
• Section 53600.3.
  Except as provided in subdivision (a) of Section 27000.3, all governing bodies of local agencies or persons authorized to make investment decisions on behalf of...
• Section 53600.5.
  When investing, reinvesting, purchasing, acquiring, exchanging, selling, or managing public funds, the primary objective of a trustee shall be to safeguard the principal of the...
• Section 53600.6.
  The Legislature hereby finds that the solvency and creditworthiness of each individual local agency can impact the solvency and creditworthiness of the state and other...
• Section 53601.
  This section shall apply to a local agency that is a city, a district, or other local agency that does not pool money in deposits...
• Section 53601.1.
  The authority of a local agency to invest funds pursuant to Section 53601 includes, in addition thereto, authority to invest in financial futures or financial...
• Section 53601.2.
  As used in this article, “corporation” includes a limited liability company.(Added by Stats. 2004, Ch. 118, Sec. 18. Effective January 1, 2005.)
• Section 53601.5.
  The purchase by a local agency of any investment authorized pursuant to Section 53601 or 53601.1, not purchased directly from the issuer, shall be purchased...
• Section 53601.6.
  (a) A local agency shall not invest any funds pursuant to this article or pursuant to Article 2 (commencing with Section 53630) in inverse floaters, range...
• Section 53601.8.
  Notwithstanding Section 53601 or any other provision of this code, a local agency that has the authority under law to invest funds, at its discretion,...
• Section 53601.8.a.
  Notwithstanding Section 53601 or any other provision of this code, a local agency that has the authority under law to invest funds may, at its...
• Section 53602.
  The legislative body shall invest only in notes, bonds, bills, certificates of indebtedness, warrants, or registered warrants which are legal investments for savings banks in...
• Section 53603.
  The legislative body may make the investment by direct purchase of any issue of eligible securities at their original sale or after they have been...
• Section 53604.
  The legislative body may sell, or exchange for other eligible securities, and reinvest the proceeds of, the securities purchased.(Amended by Stats. 1953, Ch. 537.)
• Section 53605.
  From time to time, the legislative body shall sell the securities so that the proceeds may be applied to the purposes for which the original...
• Section 53606.
  The bonds purchased, which were issued by the purchaser, may be canceled either in satisfaction or sinking fund obligations or otherwise. When canceled, they are...
• Section 53607.
  The authority of the legislative body to invest or to reinvest funds of a local agency, or to sell or exchange securities so purchased, may...
• Section 53608.
  The legislative body of a local agency may deposit for safekeeping with a federal or state association (as defined by Section 5102 of the Financial...
• Section 53609.
  Notwithstanding the provisions of this chapter or any other provisions of this code, funds held by a local agency pursuant to a written agreement between...
• Section 53610.
  (a) For purposes of this section, “Proposition 1A receivable” means the right to payment of moneys due or to become due to a local agency, pursuant...

Last modified: October 22, 2018