California · Military and Veterans Code - MVC

MVC §1002.25: A resolution of issuance may include provisions requiring, permitting, restricting or governing the deposit and investment of funds established for the security of debentures issued thereunder, and re

What this law says, in plain English

A resolution authorizing debenture issuance may include provisions controlling how funds held as security for those debentures are deposited and invested.

Read the full statutory text

A resolution of issuance may include provisions requiring, permitting, restricting or governing the deposit and investment of funds established for the security of debentures issued thereunder, and requiring that such deposits be secured or specifying the type of security required for such deposits irrespective of any law authorizing or permitting such deposit or investment of public funds generally.

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