Gov. Code, § 59283 · Article 5.5. Refunding of Ad Valorem Tax or Assessment Bonds
Gov. Code, § 59283
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
The proceeds of the sale of any refunding bonds shall be deposited in escrow or in trust with any bank or trust company within or without the state, or both within or without the state, and shall be secured in accordance with the laws applicable to funds of the local agency and may, along with any other moneys available for that purpose similarly deposited, be invested or reinvested in federal securities. The term “federal securities” means those securities described in Sections 1360 and 1360.1 of the Financial Code or Section 53601 of this code.
Notes and commentary — not statutory text
History
Added by Stats. 1973, Ch. 256.
Source of truth
- Edition
- As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
- Official file
- https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=GOV§ionNum=59283.
- Text hash
- sha256 9f9088d8dbe4b262bceecd43df7794e3d31dfe3b7d5e85965b503dd66b0ddf98
- Composed by
- compose_ca.py 2026-10-22: the Legislative Counsel's CAML content files read by a tokenizer (caml_readers.reader_a); an independent xml.etree reading (caml_readers.reader_b) agrees on every section
This section cites
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