Cal. Public Resources Code § 5196
Cal. Public Resources Code § 5196
California · California Public Resources Code · Status: effective
Cite this
- Citation
- Cal. Public Resources Code § 5196, California, version 1 as recorded 2026-07-25, yourstate.us, https://yourstate.us/provision/900504
- Permanent ID
ys:prov:900504@1- SHA-256
8ae4f1f2dcd640e8d045218b7309fb98622de50c7a50183da8f6cc900fdfeae0
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
If the money derived from gifts, bequests, or legacies at any time exceeds the sum necessary for immediate expenditure on the parks and grounds, or if it is advisable to invest all or a part of such funds in an interest-bearing or productive investment, the board may invest such money in interest-bearing bonds of the Government of the United States, or the State of California, or in obligations issued pursuant to the provisions of the Federal Home Loan Bank Act, approved July 22, 1932, as now or hereafter amended, or in obligations issued pursuant to Title 4 of the National Housing Act, approved June 27, 1934, as now or hereafter amended. Thereafter the board may sell and dispose of these securities, or change the form of the investment.