Section 99357 Of Article 7. Limited Obligation Bonds From California Public Utilities Code >> Division 10. >> Part 11. >> Chapter 4. >> Article 7.

. The county may invest funds held in reserve, or in any sinking fund, or funds not required for immediate disbursement, in property or securities in which counties may legally invest funds subject to their control. No such investment shall be made in contravention of any covenant or agreement in any resolution authorizing the issuance of any outstanding bonds.