§ 101232 District Investment Reinvestment Authority

Public Utilities Code·California

AI SummaryVerified

This law says that if a district buys things like bonds or treasury notes, they can sell them later and use the money to buy new ones.

Key Takeaways

•Districts can sell their old bonds or notes.
•They can use the money from the sale to buy new ones.
•This helps them manage their investments better.

Example

Imagine a school district buys some bonds to make money. Later, they decide to sell those bonds.

The law lets them sell the old bonds and use that money to buy new bonds or other safe investments.

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

Official Source

View on CA.gov

§ 101232 District Investment Reinvestment Authority

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. (Added by Stats. 1971, Ch. 1161.)

Last verified: January 11, 2026

Key Terms

bonds treasury notes obligations investments district

References

Official text at leginfo.legislature.ca.gov
California Legislature. Public Utilities Code. Section 101232.

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References