CHAPTER 3. Investments

Chapter 3 added by Stats. 1945, Ch. 120.

§§ 16430–16495.5 · 42 sections

1. ARTICLE 1. General §§ 16430–16431 · 2 sections

   • § 16430 Eligible securities for the investment of surplus moneys shall be any of the following: (a) Bonds or interest-bearing notes or obligations of the United…
   • § 16431 (a) Notwithstanding any other provisions of this code, funds held by the state, pursuant to a written agreement between the state and employees of the state to…
2. ARTICLE 4. Special Fund Investments §§ 16470–16476 · 10 sections

   • § 16470 The Pooled Money Investment Board shall, at such times as it deems necessary, determine whether any portion of the money then on deposit in the State Treasury…
   • § 16471 Upon the determination and designation of surplus money in any special fund, the Controller shall transfer from that fund to the Surplus Money Investment Fund…
   • § 16472 All moneys transferred to or deposited in the Surplus Money Investment Fund are hereby appropriated without regard to fiscal years to carry out the purposes of…
   • § 16473 The Pooled Money Investment Board shall, at such times as it deems necessary, determine whether any portion of the money theretofore transferred to and…
   • § 16473.5 For the purposes of this article, a written determination signed by a majority of the members of the Pooled Money Investment Board shall be deemed to be the…
   • § 16474 The money in the Surplus Money Investment Fund, shall be invested and reinvested by the State Treasurer as a part of the Pooled Money Investment Account.
   • § 16475 At the conclusion of each calendar quarter, all interest earned and other increment derived from investments made pursuant to this article, interest earnings…
   • § 16475.1 Notwithstanding any other provisions of law, the interest earned by governmental cost funds, as determined jointly by the Controller and Director of Finance,…
   • § 16475.5 Notwithstanding Section 16475, at the conclusion of each calendar quarter, all interest earned and other increment derived from the investment pursuant to this…
   • § 16476 If any provision of this article, or the application thereof to the money in any fund referred to herein, is held invalid, the remaining provisions of this…
3. ARTICLE 4.5. Treasury Pooled Money Investments §§ 16480–16482 · 16 sections

   • § 16480 All state money held by the State Treasurer in treasury trust accounts, and all money in the State Treasury, except money in the Unemployment Compensation…
   • § 16480.1 There is hereby created a Pooled Money Investment Board, which shall consist of the Controller, Treasurer and Director of Finance. The Pooled Money Investment…
   • § 16480.2 It is the intent of this article that money available for investment or deposit be invested in securities or deposited in banks and savings and loan…
   • § 16480.3 Immediately after designations described in Section 16480.1, the Treasurer shall invest or make deposits in banks and savings and loan associations in…
   • § 16480.35 It is the intent of the Legislature that the Pooled Money Investment Board, in administering its investment program, shall give due regard to assisting such…
   • § 16480.4 (a) Amounts available for investment under this article may be invested and reinvested by the State Treasurer in any securities described in Section 16430 of…
   • § 16480.45 In addition to any other investment authorized by this article, the Treasurer may invest in Property Assessed Clean Energy (PACE) bonds, as defined in Section…
   • § 16480.5 Investments pursuant to this article shall be purchased by Controller’s warrants. Such warrants shall not be drawn upon a fund but shall be drawn on all moneys…
   • § 16480.6 (a) At the conclusion of each calendar quarter, all interest earned and increment derived from investments in securities, time deposits and loans made pursuant…
   • § 16480.7 Not later than 30 days after the close of each month there shall be placed on file for public inspection during business hours at the offices of the…
   • § 16480.8 If any provision in this chapter, or the application thereof to the money in any fund in the Treasury, is held invalid, the remaining provisions of this…
   • § 16480.9 Notwithstanding the provisions of Section 16480.6, as of December 31 and June 30 each year all interest earned and increment derived from the investment…
   • § 16481 Notwithstanding any other provision of the law, the State Treasurer may enter into security loan agreements pursuant to the provisions of Division 8…
   • § 16481.1 The Pooled Money Investment Board shall succeed to and is vested with all of the powers, duties, purposes, responsibilities, and jurisdiction in matters now or…
   • § 16481.2 (a) The Treasurer shall annually prepare and submit to the Pooled Money Investment Board a written statement of investment policy. The Treasurer shall promptly…
   • § 16482 (a) Subject to subdivisions (b) and (c), and notwithstanding any other provision of law, any state agency that has entered into a grant agreement for the…
4. ARTICLE 5. Interfund Purchases, Sales and Transfers of Bond Investments §§ 16485–16490 · 6 sections

   • § 16485 It is the purpose of this article to authorize the establishment of procedures for the transfer of bonds between funds in the State Treasury in the following…
   • § 16486 For the purposes of this article, the following definitions shall apply: (a) “Investing authority,” with respect to any State Treasury fund, means the state…
   • § 16487 The State Controller may establish procedures for the purpose of carrying out the purposes set forth in Section 16485. These procedures are exempt from the…
   • § 16488 The procedures authorized to be adopted by this article are permissive only, and no provision hereof shall require any state agency to approve or perform any…
   • § 16489 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…
   • § 16490 Any procedure established under this article shall require that in connection with any purchase, sale or transfer of bonds thereunder, the State Controller,…
5. ARTICLE 6. Local Agency Emergency Loan Fund §§ 16492–16495.5 · 8 sections

   • § 16492 The Legislature finds and declares that local agencies may be unable to sell short-term notes to financial institutions at the end of the 1977–78 fiscal year…
   • § 16492.5 It is the purpose of the Local Agency Emergency Loan Fund to provide short-term loans to local agencies for operational purposes so that vital services are not…
   • § 16493 As used in this article: (a) “Board” means the Pooled Money Investment Board. (b) “Local agency” means a city, county, city and county, special district,…
   • § 16493.5 There is hereby created in the State Treasury a Local Agency Emergency Loan Fund. Short-term loans shall be available to local agencies for the purpose of…
   • § 16494 The amount of any loan shall not exceed 50 percent of the local agency’s property tax revenues for the 1977–78 fiscal year, including state property tax relief…
   • § 16494.7 Notwithstanding any other provision of law, any local agency may apply to the board, by no later than August 21, 1978, for a loan pursuant to this article…
   • § 16495 (a) The board may approve, reduce, or deny any loan application. Such action shall be taken within 10 days of the receipt of an application. No loan shall be…
   • § 16495.5 (a) All loans shall bear an interest rate comparable to the prevailing market interest rate statewide for tax anticipation notes purchased by major California…