Section 43771 Of Article 4. Investment Bond Act Of 1909 From California Government Code >> Division 4. >> Title 4. >> Chapter 4. >> Article 4.
43771
. The legislative body of any city shall keep the funds
arising from the sale of bonds pursuant to this article separate and
distinct from all other municipal funds in a fund to be called
"general improvement fund," and shall invest and reinvest the money
in bonds issued by the city, or bonds issued for street, sewer,
drainage, or any other improvements within the city. It shall collect
the principal of and interest on such bonds and credit it to the
fund.