Section 52736 Of Article 2. Sinking Fund From California Water Code >> Division 15. >> Part 8. >> Chapter 4. >> Article 2.

. The board may invest the money in the sinking fund in bonds of the United States or of the State of California, and hold the bonds so purchased, and the income therefrom, as part of the sinking fund until such time as the board determines that it is for the best interests of the district that all or part of such bonds be sold.