As used in this article “surplus money” means any money in any sinking fund established for the purpose of payment of any bonded or other indebtedness or any money in the treasury not required for the immediate necessities of the district.
General Financial ProvisionsInvestments
Section § 31335
In this section, "surplus money" refers to any cash sitting in a sinking fund meant for repaying bonds or debts, or any money in the district's treasury that's not needed right away for the district's current expenses.
surplus money sinking fund bonded indebtedness
Section § 31336
This law allows a district to invest its surplus money as decided by its board. The district can choose to invest in different types of bonds, including those issued by the district itself, by any school district located in the same county as the water district, by the State of California, and by the United States. It can also invest in registered warrants issued by the State.
A district may invest such surplus money, as its board deems wise or expedient in any of the following:
(a)CA Water Code § 31336(a) Bonds issued by the district.
(b)CA Water Code § 31336(b) Bonds issued by any school district any part of which is in a county containing any part of the county water district.
(c)CA Water Code § 31336(c) Bonds issued by the State.
(d)CA Water Code § 31336(d) Bonds issued by the United States.
(e)CA Water Code § 31336(e) Registered warrants issued by the State.
district investment surplus money bonds
Section § 31337
This law states that investments can be made by buying bonds or registered warrants either during their initial sale or at any time after they have been issued.
The investment may be made by purchase of the bonds or registered warrants or part thereof at the original sale or by purchase after they have been thus issued.
investment purchase bonds registered warrants
Section § 31338
This law allows bonds or registered warrants, once purchased, to be sold at a later time. The money received from selling them can then be reinvested according to the same regulations.
Any bonds or registered warrants purchased pursuant to this article and held may, from time to time, be sold and the proceeds reinvested pursuant to this article.
bonds registered warrants sale of bonds
Section § 31339
This law requires that any bonds or registered warrants bought by a district and held must be sold at the right time so that the money from these sales can be used for the specific purposes originally intended when the money was first put into the district's treasury.
Sales of bonds or registered warrants purchased pursuant to this article and held shall be made in season so that the proceeds may be applied to the purposes for which the money with which the bonds or registered warrants were originally purchased was placed in the treasury of the district.
bonds registered warrants district treasury
