Article 13. Investments of California Public Utilities Code >> Division 6. >> Chapter 6.5. >> Article 13.
Pending use for the purposes for which any reserve fund or
special trust account or any other separate fund established pursuant
to this chapter was so established, money set aside and placed
therein may, when and to such extent and in such manner as may be
directed by the said board and as may be consistent with the
provisions of any resolutions of the board constituting a part of the
proceedings for the issuance of the issue of bonds in connection
with which such fund or account was created, be invested in the same
manner as are other moneys of the district. Any such bonds or other
evidences of indebtedness acquired through such investment may be
resold at any time.
Any bonds or other securities so purchased shall constitute
a part of such reserve fund, separate fund or special trust account,
and any interest or any increment received by reason of such
investment and the proceeds of any such resale shall be placed in,
and constitute a part of, such fund or account.
Bonds issued under this chapter may be presented to the
State Treasurer for certification under Division 10 of the Water Code
in like manner and with the same legal effect as in the case of
revenue bonds issued by irrigation districts; provided, that Section
20050 of the Water Code shall not be applicable to such bonds and,
notwithstanding such certification, any district may issue subsequent
series or issues of bonds without certification as the district may