Section 9466 Of Article 6. Funds And Warrants From California Water Code >> Division 5. >> Part 5. >> Chapter 6. >> Article 6.

. Whenever the drainage district has any money in the bond fund of any assessment which money is not immediately required for the purpose of paying principal or interest on bonds of the assessment, all or any part of it may be invested in bonds of the drainage district based upon and secured by the assessment.