Laws, Regulations & Annotations

Business Taxes Law Guide – Revision 2013
 

Motor Vehicle Fuel Tax Law

CHAPTER 12. METROPOLITAN TRANSPORTATION COMMISSION.1

Section 8526

8526. Bonds qualify as trust fund investments. Any bonds issued under this chapter are legal investment for all trust funds; for the funds of insurance companies, commercial and savings banks, and trust companies; and for state school funds; and whenever any money or funds may, by any law now or hereafter enacted, be invested in bonds of cities, counties, school districts, or other districts within the state, that money or those funds may be invested in the bonds issued under this chapter, and whenever bonds of cities, counties, school districts, or other districts within the state may, by any law now or hereafter enacted, be used as security for the performance of any act or the deposit of any public money, the bonds issued under this chapter may be so used. The provisions of this chapter are in addition to all other laws relating to legal investments and shall be controlling as the latest expression of the Legislature with respect thereto.

1Added by Stats. 1997, Ch. 878 (AB 595), in effect January 1, 1998.