California Legal Codes and Statutes

§ 53356.03

Amended by Stats. 1997, Ch. 204, Sec. 1. Effective January 1, 1998.

The proceeds of any bond, note, or other security issued pursuant to this chapter, or the proceeds of any bond, note, or other security issued pursuant to any other authority where revenue collected pursuant to this chapter is pledged or otherwise committed to pay or repay principal, interest, or both, shall be deposited or invested only in one or more of the instruments, securities, or obligations that are eligible legal investments of the local agency.

Cite this section

Cal. Gov. Code § 53356.03 (2026)
https://ca.codecond.com/codes/gov/title-5-local-agencies/division-2-cities-counties-and-other-agencies/part-1-powers-and-duties-common-to-cities-counties-and-other-agencies/chapter-2-5-the-mello-roos-community-facilities-act-of-1982/article-5-bonds/section-53356.03

Other sections in Article 5 - Bonds

§ 53345§ 53345.3§ 53345.8§ 53346§ 53348§ 53349§ 53350§ 53351§ 53352§ 53353.5…§ 53363.5§ 53363.7§ 53363.8§ 53363.9§ 53364§ 53364.2§ 53364.5§ 53365§ 53365.5§ 53365.7

This content is for reference, learning, and study purposes only. All legal text should be verified against the official California Legislative Information website, which is the authoritative source for California law. Data last processed: February 15, 2026.