§ 120472 Board Investment Reinvestment Authority

Public Utilities Code·California

AI SummaryVerified

Key Takeaways

•The board can buy and sell bonds or treasury notes as investments.
•When they sell these investments, they can use the money to buy new ones.
•This is just about managing money, not about breaking rules or punishments.

Example

Imagine you have a piggy bank with some money in it, and you decide to buy a toy. Later, you sell that toy to buy a different one.

The board does something similar. They buy bonds (like special money papers) and can sell them later to buy new ones. It’s just a way to manage their money.

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

Official Source

View on CA.gov

§ 120472 Board Investment Reinvestment Authority

Any bonds, treasury notes, or obligations purchased and held as investments by the board 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. 1983, Ch. 599, Sec. 1.)

Last verified: January 23, 2026

Key Terms

bonds treasury notes obligations investments board

References

Official text at leginfo.legislature.ca.gov
California Legislature. Public Utilities Code. Section 120472.

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References