Section 13151.9 Of Article 9. Form And Content From California Public Utilities Code >> Division 6. >> Chapter 6.5. >> Article 9.

. The board may provide for the custody by the district of bonds and coupons, whether pending delivery or after purchase or surrender; for the delivery of bonds and coupons by the district to the purchaser thereof; for the receipt by the district of the proceeds of the sale and for the depositing of such proceeds in the proper fund or funds.