101230. The district may invest any surplus money in its treasury,
including money in any sinking fund, in any of the following:
(a) Its own bonds.
(b) Treasury notes, certificates of indebtedness, bills, bonds of
the United States, or any other evidence of indebtedness secured by
the full faith and credit of the United States.
(c) Obligations issued pursuant to the Federal Home Loan Bank Act
or the National Housing Act.
(d) Treasury notes or bonds of this state, or of any public
corporation, municipal corporation, public district, or political
subdivision within this state which are legal as security for the
deposit of public funds.
101231. Such investment may be made by direct purchase of any issue
of such bonds, treasury notes, or obligations, or part thereof, at
the original sale or by the subsequent purchase of the bonds,
treasury notes, or obligations.
101232. Any bonds, treasury notes, or obligations purchased and
held as investments by the district may, from time to time, be sold
and the proceeds reinvested in bonds, treasury notes, or obligations
as provided in this article.
101233. Sales of any bonds, treasury notes, or obligations
purchased and held by the district shall, from time to time, be made
in season so that the proceeds may be applied to the purposes for
which the money with which the bonds, treasury notes, or obligations
were originally purchased was placed in the treasury of the district.
101234. With the consent of the board, the general manager may:
(a) Authorize the trust department of any state or national bank
in this state, or a trust company authorized to act as such in this
state, to receive as his agent deposits of any securities acquired by
the district.
(b) Place and maintain for safekeeping as a trust deposit with the
trust department of any state or national banks in this state, or a
trust company authorized to act as such in this state, any securities
owned by the district.
The bank or trust company selected shall have a total paid-in
capital of at least one million dollars ($1,000,000). The general
manager shall take from the trust department or trust company a
receipt for the securities, and neither the general manager nor the
district is responsible for the custody and safe return of the
securities until they are withdrawn from the trust department or
trust company by the general manager. Any trust department or trust
company to which securities are delivered, either as agent or
depository for the district, shall make such disposition of the
securities as the general manager directs and is responsible only for
the strict compliance with written instructions given to it by the
general manager. All such securities are at all times subject to the
order of the general manager.
101230. The district may invest any surplus money in its treasury,
including money in any sinking fund, in any of the following:
(a) Its own bonds.
(b) Treasury notes, certificates of indebtedness, bills, bonds of
the United States, or any other evidence of indebtedness secured by
the full faith and credit of the United States.
(c) Obligations issued pursuant to the Federal Home Loan Bank Act
or the National Housing Act.
(d) Treasury notes or bonds of this state, or of any public
corporation, municipal corporation, public district, or political
subdivision within this state which are legal as security for the
deposit of public funds.
101231. Such investment may be made by direct purchase of any issue
of such bonds, treasury notes, or obligations, or part thereof, at
the original sale or by the subsequent purchase of the bonds,
treasury notes, or obligations.
101232. Any bonds, treasury notes, or obligations purchased and
held as investments by the district may, from time to time, be sold
and the proceeds reinvested in bonds, treasury notes, or obligations
as provided in this article.
101233. Sales of any bonds, treasury notes, or obligations
purchased and held by the district shall, from time to time, be made
in season so that the proceeds may be applied to the purposes for
which the money with which the bonds, treasury notes, or obligations
were originally purchased was placed in the treasury of the district.
101234. With the consent of the board, the general manager may:
(a) Authorize the trust department of any state or national bank
in this state, or a trust company authorized to act as such in this
state, to receive as his agent deposits of any securities acquired by
the district.
(b) Place and maintain for safekeeping as a trust deposit with the
trust department of any state or national banks in this state, or a
trust company authorized to act as such in this state, any securities
owned by the district.
The bank or trust company selected shall have a total paid-in
capital of at least one million dollars ($1,000,000). The general
manager shall take from the trust department or trust company a
receipt for the securities, and neither the general manager nor the
district is responsible for the custody and safe return of the
securities until they are withdrawn from the trust department or
trust company by the general manager. Any trust department or trust
company to which securities are delivered, either as agent or
depository for the district, shall make such disposition of the
securities as the general manager directs and is responsible only for
the strict compliance with written instructions given to it by the
general manager. All such securities are at all times subject to the
order of the general manager.
101230. The district may invest any surplus money in its treasury,
including money in any sinking fund, in any of the following:
(a) Its own bonds.
(b) Treasury notes, certificates of indebtedness, bills, bonds of
the United States, or any other evidence of indebtedness secured by
the full faith and credit of the United States.
(c) Obligations issued pursuant to the Federal Home Loan Bank Act
or the National Housing Act.
(d) Treasury notes or bonds of this state, or of any public
corporation, municipal corporation, public district, or political
subdivision within this state which are legal as security for the
deposit of public funds.
101231. Such investment may be made by direct purchase of any issue
of such bonds, treasury notes, or obligations, or part thereof, at
the original sale or by the subsequent purchase of the bonds,
treasury notes, or obligations.
101232. Any bonds, treasury notes, or obligations purchased and
held as investments by the district may, from time to time, be sold
and the proceeds reinvested in bonds, treasury notes, or obligations
as provided in this article.
101233. Sales of any bonds, treasury notes, or obligations
purchased and held by the district shall, from time to time, be made
in season so that the proceeds may be applied to the purposes for
which the money with which the bonds, treasury notes, or obligations
were originally purchased was placed in the treasury of the district.
101234. With the consent of the board, the general manager may:
(a) Authorize the trust department of any state or national bank
in this state, or a trust company authorized to act as such in this
state, to receive as his agent deposits of any securities acquired by
the district.
(b) Place and maintain for safekeeping as a trust deposit with the
trust department of any state or national banks in this state, or a
trust company authorized to act as such in this state, any securities
owned by the district.
The bank or trust company selected shall have a total paid-in
capital of at least one million dollars ($1,000,000). The general
manager shall take from the trust department or trust company a
receipt for the securities, and neither the general manager nor the
district is responsible for the custody and safe return of the
securities until they are withdrawn from the trust department or
trust company by the general manager. Any trust department or trust
company to which securities are delivered, either as agent or
depository for the district, shall make such disposition of the
securities as the general manager directs and is responsible only for
the strict compliance with written instructions given to it by the
general manager. All such securities are at all times subject to the
order of the general manager.
