§ 13451 State Bond Purchase Authority

Government Code·California

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Key Takeaways

•The director can buy bonds at a sale using available funds.
•The Attorney General must approve the bond issue before the director can complete the purchase.
•The director does not need to provide any extra guarantees or checks when making a bid.

Example

Imagine the state is selling bonds to raise money for building schools.

The director can buy some of these bonds using the state's money, but only after the Attorney General says it's okay. The director doesn't need to provide any extra paperwork or guarantees to make this purchase.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source

View on CA.gov

§ 13451 State Bond Purchase Authority

At any sale of bonds by the Treasurer the director may become a bidder and purchase bonds with the funds at his disposal. The appropriate transfer of funds shall be made by the Controller and Treasurer on the books of their offices. No purchase of bonds shall be completed by the director until the Attorney General has approved the validity of the issue. No certified check, bond or other assurance in law shall be required from the director or the State upon a bid made by the director under this section. (Added by Stats. 1945, Ch. 112.)

Last verified: January 22, 2026

Key Terms

director bonds Treasurer Controller Attorney General

References

Official text at leginfo.legislature.ca.gov
California Legislature. Government Code. Section 13451.

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References