§ 103392 District Investment Reinvestment Authority

This law lets the district sell the bonds or Treasury notes it owns as investments and then use the money to buy new bonds or Treasury notes.

Key Takeaways

•The district can sell bonds, Treasury notes, or similar investments whenever it wants.
•The money from the sale must be used to buy more bonds, Treasury notes, or similar investments.
•All of this must follow the rules set out in the same article of the law.

Example

The school district has a bunch of old Treasury bonds that are worth $5 million. It decides to sell those bonds and use the cash to buy newer bonds that pay a higher interest rate.

Because the law says the district can sell its investment bonds and reinvest the money in other bonds, the district can do this sale and buy the new bonds without breaking any rules.

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. 1974, Ch. 502.)

This law lets the district sell the bonds or Treasury notes it owns as investments and then use the money to buy new bonds or Treasury notes.

Key Takeaways

•The district can sell bonds, Treasury notes, or similar investments whenever it wants.
•The money from the sale must be used to buy more bonds, Treasury notes, or similar investments.
•All of this must follow the rules set out in the same article of the law.

Example

The school district has a bunch of old Treasury bonds that are worth $5 million. It decides to sell those bonds and use the cash to buy newer bonds that pay a higher interest rate.

Because the law says the district can sell its investment bonds and reinvest the money in other bonds, the district can do this sale and buy the new bonds without breaking any rules.

Key Takeaways

Example

Key Terms

References

§ 103392 District Investment Reinvestment Authority

Key Takeaways

Example

Key Terms

References

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References