§ 53807 Public Building Investment Certificates

• •The board sells certificates at their full price to the investing agency.
• •These certificates are a safe investment for the agency, even if other laws say they can't invest in certain things.
• •The agency and the board can agree on how and when to pay for the certificates, like paying in parts as the work on public buildings goes on.

A school district needs money to build a new school.

The district sells certificates to a bank. The bank can buy these certificates even if they usually can't invest in school projects. They agree the bank will pay a little bit at a time as the school is being built.