Cal. Government Code - GOV § 13451. Section 13451.
At any sale of bonds by the Treasurer the director may become a bidder and purchase bonds with the funds at his disposal. The appropriate transfer of funds shall be made by the Controller and Treasurer on the books of their offices.
No purchase of bonds shall be completed by the director until the Attorney General has approved the validity of the issue.
No certified check, bond or other assurance in law shall be required from the director or the State upon a bid made by the director under this section.