Public Utilities Code - PUC
DIVISION 10. TRANSIT DISTRICTS [24501 - 107025]
( Division 10 repealed and added by Stats. 1955, Ch. 1036. ) PART 2. SAN FRANCISCO BAY AREA RAPID TRANSIT DISTRICT [28500 - 29757]
( Part 2 added by Stats. 1957, Ch. 1056. ) CHAPTER 8. Bonds and Other Evidences of Indebtedness [29150 - 29293]
( Chapter 8 added by Stats. 1957, Ch. 1056. ) ARTICLE 2. Form and Terms of General Obligation Bonds [29169 - 29184]
( Article 2 added by Stats. 1957, Ch. 1056. ) 29184.
Any general obligation bonds which shall be issued under the provisions of this part shall be legal investment for all trust funds; for the funds of insurance companies, banks—both commercial and savings—and trust companies; and for state school funds; and whenever any money or funds may, by any law now or hereafter enacted, be invested in bonds of cities, cities and counties, counties, school districts, or irrigation districts within the State of California, such money or funds may be invested in the general obligation bonds issued under this part, and whenever bonds of cities, cities and counties, counties, school districts, or irrigation districts within this State
may, by any law now or hereafter enacted, be used as security for the performance of any act or the deposit of any public moneys, the said bonds issued under this part may be so used. The provisions of this part shall be in addition to all other laws relating to legal investments and shall be controlling as the latest expression of the Legislature with respect thereto.
(Added by Stats. 1957, Ch. 1056.)