California Law (Last Updated: March 4, 2014) |
Government Code - GOV |
Title 2. GOVERNMENT OF THE STATE OF CALIFORNIA |
Division 4. FISCAL AFFAIRS |
Part 2. STATE FUNDS |
Chapter 3. Investments |
ARTICLE 5. Interfund Purchases, Sales and Transfers of Bond Investments |
Section 16489.
Latest version.
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Any procedure established under this article shall provide that the market value of the bonds shall be regarded, for the purposes thereof, as the equivalent of cash in that amount, in any purchase, sale or transfer of bonds in lieu of cash thereunder.
(Added by Stats. 1951, Ch. 208.)