California

Government Code

21,845 sections, each with the official text and a plain-English explanation of what it means for you.

• § 53400 — A county, city, district, or political subdivision may sell any of its bonds, authorized by the electors and unsold, at a price which will net the purchaser not more than 8 percent a year, payable sem
• § 53401 — This article does not apply to bonds authorized under a law permitting their sale at a price netting the purchaser more than 6 percent.
• § 53410 — On or after January 1, 2001, any local bond measure that is subject to voter approval that would provide for the sale of bonds by a local agency shall provide accountability measures that include, but
• § 53411 — The chief fiscal officer of the issuing local agency shall file a report with its governing body no later than January 1, 2002, and at least once a year thereafter.
• § 53412 — As used in this article: (a) “Local agency” means any county, city, city and county, including a charter city or county, or any special district.
• § 53430 — As used in this article: (a) “Bond” includes warrant or other evidence of indebtedness.
• § 53431 — When a bond of a local agency is mutilated or defaced the legislative body shall issue a duplicate if all of the following conditions exist: (a) It appears by clear and unequivocal proof that the bond
• § 53432 — The duplicate shall have the same time to run, bear like interest, and have the same number, as the mutilated or defaced bond.
• § 53433 — The owner of the bond desiring a duplicate shall make a written application to the legislative body, stating the facts required by this article.
• § 53434 — The owner shall accompany his application with a deposit of money required by the legislative body for the cost of printing, lithographing or otherwise preparing the duplicate, and all other expenses
• § 53435 — If required by the legislative body, the owner shall also file with his application a bond in the required sum with good and sufficient sureties, to be approved by the legislative body, and conditione
• § 53436 — Upon receipt of the application, the legislative body shall adopt a resolution: (a) Stating the receipt of the application.
• § 53437 — The duplicate bond shall be signed by the same officers and as nearly as possible shall be issued in the manner of the original.
• § 53438 — The duplicate shall be delivered in exchange for the original bond.
• § 53439 — An exchange shall not be made unless the defaced or mutilated bond with any coupons attached is identifiable and is first surrendered by the owner.
• § 53440 — When the original is surrendered, the legislative body shall cause proper record to be made of its cancellation and thereafter the duplicate has the validity of the original.
• § 53460 — As used in this article: (a) “Local agency” means county, city, irrigation district, reclamation district, school district, sanitary district, or other municipal or public corporation.
• § 53461 — The legislative body of a local agency may issue a new bond similar to the original to replace it if: (a) By competent proof it is made to appear to the legislative body that a bond issued by the loca
• § 53462 — If the legislative body refuses to issue a new bond, the owner of any lost or destroyed bond may apply to the superior court of the county in which the local agency is situated for an order requiring
• § 53463 — The application shall be by petition a copy of which shall be served upon the legislative body not later than ten days prior to the time set for the hearing.
• § 53464 — The court shall inquire into the truth of the facts stated in the petition and hear the proofs and allegations of the petition.
• § 53465 — Each bond and attached coupon so issued shall state upon its face: (a) The number and denomination of the bond for which it is issued.
• § 53466 — The undertaking required by this article, duly indorsed as approved, shall be filed in the office of the clerk or the treasurer of the issuing local agency as the legislative body directs.
• § 535 — From the county seat of Sacramento to the State Capitol it is one (1) mile.
• § 53500 — As used in this article: (a) “Local agency” means county, city, city and county, public district, or other public or municipal corporation.
• § 53501 — This article applies to all local agencies which have the power to issue general obligation bonds to acquire, construct or finance a revenue-producing facility.
• § 53502 — In any ordinance, resolution, order or indenture providing for the issuance of general obligation bonds of a local agency to provide funds for the acquisition, construction or financing of a revenue p
• § 53503 — In connection with such pledge the legislative body may provide in such ordinance, resolution, order or indenture such covenants, promises, restrictions and provisions as it may deem necessary or desi
• § 53504 — The pledge and the payment and security provisions authorized by this article shall be in addition to, and not in derogation of, any provisions permitted or required by law, charter or the Constitutio
• § 53505 — If the legislative body intends to exercise the powers granted by this article it shall make a statement of such intention in any ordinance, resolution or order calling or providing for an election to
• § 53506 — (a) This article is full authority for the issuance of bonds or refunding bonds by any city, county, city and county, school district, community college district, or special district, secured by the l
• § 53506.5 — This article shall be liberally construed to promote its objectives.
• § 53507 — As used in this article, the following terms shall have the meanings assigned to them in this section.
• § 53507.5 — (a) The legislative body may, by resolution, provide for the issuance of bonds pursuant to this article.
• § 53508 — The resolution authorizing any bonds or any issue of bonds may provide for any of the following: (a) The form of the bonds to be issued as serial bonds, or sinking fund bonds, with serial or term matu
• § 53508.3 — (a) No bond shall be subject to mandatory tender for purchase or redemption prior to its fixed maturity date unless it contains a recital to that effect.
• § 53508.5 — Notwithstanding any other law and except as provided in Section 53508.
• § 53508.6 — Notwithstanding any other law, a school district or community college district may, pursuant to this article, issue bonds that do not allow for the compounding of interest and that have a maturity gre
• § 53508.7 — (a) The bonds shall be sold at a public or private sale and at a price at, above, or below par, as the legislative body determines.
• § 53508.9 — (a) Notwithstanding Section 53508.
• § 53509 — (a) Any bond issued under the authority of this article may be refunded pursuant to this or any other applicable law.
• § 53509.3 — Nothing in this article shall limit the authority of the legislative body to enter into any contract in connection with the issuance of the bonds which it is permitted by Section 5922 to enter into.
• § 53509.5 — After the sale of bonds issued under the authority of this article, the legislative body shall do both of the following: (a) Present actual cost information for the sale at its next scheduled public m
• § 53510 — As used in this article “local agency” means county, city, city and county, public district or any public or municipal corporation, public agency or public authority.
• § 53511 — (a) A local agency may bring an action to determine the validity of its bonds, warrants, contracts, obligations or evidences of indebtedness pursuant to Chapter 9 (commencing with Section 860) of Titl
• § 53515 — (a) General obligation bonds issued and sold by or on behalf of a local agency shall be secured by a statutory lien on all revenues received pursuant to the levy and collection of the tax.
• § 53520 — As used in this article “local agency” means county, city, city and county, public district or any public or municipal corporation, public agency or public authority.
• § 53521 — Whenever by any law of this state a local agency is required to give notice by posting or publication of a hearing on the formation of a local agency or an improvement district, zone, special assessme
• § 53522 — The clerk or secretary of the local agency shall, upon the completion of the mailing of the notice, file with the legislative body of the local agency an affidavit setting forth the time and manner of
• § 53523 — The failure of any addressee of any mailed notice to receive the same shall not affect in any way whatsoever the validity of the proceedings including such hearing nor prevent the legislative body of
• § 53530 — As used in this article: (a) “Local agency” means county, city, city and county, public district, public entity or authority, or other public or municipal corporation, including redevelopment agencies
• § 53531 — Any provision of law specifying the maximum interest rate on bonds to the contrary notwithstanding, bonds may bear interest at a coupon rate or rates as determined by the legislative body in its discr
• § 53531.1 — (a) The Legislature hereby finds and declares that, in enacting and amending Sections 53530 and 53531, the intent has been, and continues to be, to provide general authority to local agencies to issue
• § 53532 — The provisions of Section 53531 shall apply only to coupon rates and shall not affect the power of a local agency to sell bonds at a discount below par if permitted by law.
• § 53533 — Notwithstanding Section 53531 or any other provision of law establishing limitations on the rate of interest of any indebtedness or obligation of a city, county, or city and county the rate of interes
• § 53534 — Any provision of law to the contrary notwithstanding, a city, county, or city and county may enter into contracts commonly known as “interest rate swap agreements” or “forward payment conversion agree
• § 53540 — As used in this article: (a) “Local agency” means county, city, city and county, public district, public entity or authority or other public or municipal corporation.
• § 53541 — Any provision of law requiring an election to the contrary notwithstanding, the legislative body without a vote of the electors may issue bonds of the local agency, zone or improvement district if all
• § 53542 — (a) The Housing Bond Credit Committee shall, after consultation with appropriate agencies including, but not limited to, the Department of Business and Economic Development, the Department of Housing
• § 53550 — The following terms shall have the following meanings: (a) “Local agency” means public district, public corporation, authority, agency, board, commission, county, city and county, city, school distric
• § 53551 — The legislative body of any local agency may issue negotiable coupon bonds, to be denominated refunding bonds, for the purpose of refunding any of the indebtedness of the local agency evidenced by bon
• § 53552 — Whenever the legislative body of a local agency determines that prudent management of the fiscal affairs of the local agency requires that it issue refunding bonds under the provisions of this article
• § 53553 — When the legislative body determines to issue refunding bonds pursuant to this article, it shall adopt a resolution providing for the issuance of such bonds.
• § 53554 — Such refunding bonds shall: (a) Be negotiable in form; (b) Recite that they are bonds of the local agency issuing the bonds; (c) Recite that they are issued pursuant to the provisions of this article;
• § 53555 — Refunding bonds issued pursuant to this article may be exchanged for the bonds to be refunded on such basis as the legislative body determines is for the benefit of the local agency but in no case on
• § 53556 — The designated costs of issuing the refunding bonds may be paid by the purchaser of the refunding bonds or may be paid from any other legally available source, including the general fund of the local
• § 53557 — Any proceeds of sale of any refunding bonds may be deposited in escrow or trust with any bank or trust company within or without the state, or both within and without the state, and shall be secured i
• § 53558 — Such proceeds and investments in escrow or trust shall be in an amount at the time of issuance of such refunding bonds which is certified by a certified public accountant licensed to practice in this
• § 53559 — Following the issuance of any refunding bonds pursuant to this article, the legislative body of the local agency shall provide for the payment of principal and interest thereon in the same manner and
• § 53560 — Upon the issuance, sale and delivery or exchange of refunding bonds pursuant to this article: (a) If only the refunding bonds remain outstanding, such refunding bonds shall constitute indebtedness of
• § 53561 — It is hereby declared that it is a public purpose for a local agency to issue refunding bonds for the purposes set forth in this article and to invest and reinvest the proceeds thereof, and any other
• § 53562 — The powers conferred by this article are in addition and supplemental to, and not in substitution for, and the limitations imposed by this article shall not affect the powers conferred by, any other l
• § 53569 — Before selling any refunding bonds subject to the provisions of this article, any local agency shall advertise such bonds for sale at public sale and shall invite sealed bids therefor by publication o
• § 53570 — The following terms shall have the following meanings: (a) “Local agency” means public district, public corporation, authority, agency, board, commission, county, city and county, city, school distric
• § 53571 — It is hereby declared that it is a public purpose for a local agency to issue bonds for the purpose of refunding any revenue bonds of the local agency or any revenue bonds of a member of the local age
• § 53572 — In connection with the issuance of bonds under any law permitting the issuance of refunding bonds, a local agency may declare the proceeds of such refunding bonds to be a revenue producing public faci
• § 53580 — The following terms shall have the following meanings: (a) The term “local agency” means public district, public corporation, authority, agency, board, commission, county, city and county, city, schoo
• § 53581 — Notwithstanding the provisions of any other law, the provisions of this article shall apply to all refunding bonds of any local agency, regardless of the authority for their issuance.
• § 53582 — The proceedings of any local agency authorizing the issuance of bonds shall not require the deposit of any more moneys, obligations, and federal securities as are sufficient, taking into account both
• § 53583 — (a) Any local agency may issue bonds pursuant to this article or any revenue bond law under which the local agency is otherwise authorized to issue bonds for the purpose of refunding any revenue bonds
• § 53583.5 — If the original bonds to be refunded under this article were issued under Section 33760, 34312, or 52080 of the Health and Safety Code, the refunding bonds shall require a regulatory agreement that co
• § 53584 — The proceeds of refunding bonds may be applied to the purchase, retirement at maturity, or redemption of the bonds to be refunded either at their earliest redemption date or dates, any subsequent rede
• § 53584.1 — In issuing refunding bonds to honor warrants to school districts, community college districts, and other local agencies in settlement of bankruptcy, the Board of Supervisors of Orange County may provi
• § 53585 — A local agency that issues refunding bonds may obtain insurance or other credit enhancement of the refunding bonds or of the escrow referred to in Section 53584 and may enter into any credit reimburse
• § 53585.1 — (a) In issuing refunding bonds to honor warrants to school districts, community college districts, and other local agencies in settlement of bankruptcy, the Board of Supervisors of Orange County, in t
• § 53586 — Notwithstanding Section 53583, the outstanding bonds of the project areas of the redevelopment agency of the City of San Bernardino, which were merged into one and designated Central City by Chapter 1
• § 53587 — In determining the amount of refunding bonds to be issued, the local agency may include all costs of issuing the refunding bonds and of refunding the bonds to be refunded, including the amount of any
• § 53588 — The issuance, transfer, and interest income earned on any bonds issued by a local agency under this article is exempt from taxation of every kind by any state or local entity.
• § 53589 — This article provides a complete, additional, and alternative method for doing the things authorized by this article and shall be regarded as supplemental and additional to the powers conferred by any
• § 53589.5 — An action may be brought pursuant to Chapter 9 (commencing with Section 860) of Title 10 of Part 2 of the Code of Civil Procedure to determine the validity of any issuance or proposed issuance of refu
• § 53590 — The following terms shall have the following meanings for purposes of this article: (a) “Bond counsel” means any attorney or firm of attorneys that represents the issuer of a new issue of bonds with r
• § 53591 — No investment firm that has, or has had, a financial advisory relationship with respect to a new issue of bonds shall acquire as principal either alone or as a participant in a syndicate or other simi
• § 53592 — Each financial advisory relationship shall be evidenced by a written document executed prior to, upon, or promptly after the inception of the financial advisory relationship, or promptly after the cre
• § 53593 — No bond counsel with respect to a new issue of bonds shall also be counsel, with respect to that new issue of bonds, to the underwriter or other initial purchaser of the bonds.
• § 53594 — Injunctive relief shall be available, subject to judicial discretion, to prohibit or enjoin any violation of this article, but no violation shall affect the authority, validity, or enforceability of b
• § 53595 — As used in this article: (a) “Debt instruments” means bonds, notes, certificates of participation, or other evidences of indebtedness issued by a local agency pursuant to this article.
• § 53595.10 — A local agency may pledge, sell, transfer, assign, or otherwise dispose of tax increment revenues for any purpose for which the general funds of the local agency may be expended.
• § 53595.15 — (a) A pledge by a local agency of tax increment revenues received pursuant to a tax increment agreement shall be valid and binding upon the local agency from the time the pledge is made for the benefi
• § 53595.20 — (a) A local agency may, from time to time, issue its negotiable debt instruments payable from, secured by, collateralized by, or representing interests in, tax increment revenues.
• § 53595.25 — (a) A local agency may provide for the issuance of debt instruments for the purpose of refunding any debt instruments or any class, series, or issue of debt instruments of the local agency then outsta
• § 53595.30 — (a) All moneys received pursuant to this article and pledged to the payment of any class, series, or issue of debt instruments, whether as tax increment revenues or from any other source, shall be dee
• § 53595.35 — (a) In the discretion of the legislative body of a local agency, any debt instruments issued under this article may be secured by an indenture by and between the local agency and a corporate trustee o
• § 53595.40 — (a) Debt instruments issued under this article shall be payable solely from the tax increment revenues herein provided and not from any other assets or revenues of the issuing local agency.
• § 53595.45 — (a) Debt instruments issued by a local agency under this article are hereby made securities in which all (1) banks, bankers, savings banks, trust companies, and other persons carrying on a banking bus
• § 53595.5 — This article shall apply only to local agencies located within a county with a population of over 4,000,000 persons.
• § 53595.50 — Any debt instruments issued under this article, their transfer, and in the income therefrom shall at all times be free from taxation of every kind by the state and by all municipalities and political
• § 53595.55 — This article shall be deemed to provide a complete, additional, and alternative method for doing the things authorized hereby and shall be regarded as supplemental and additional to powers conferred b
• § 536 — From the county seat of San Benito County to Sacramento it is one hundred and seventy-three (173) miles.
• § 53600 — As used in this article, “local agency” means county, city, city and county, including a chartered city or county, school district, community college district, public district, county board of educati
• § 53600.3 — Except as provided in subdivision (a) of Section 27000.
• § 53600.5 — When investing, reinvesting, purchasing, acquiring, exchanging, selling, or managing public funds, the primary objective of a trustee shall be to safeguard the principal of the funds under its control
• § 53600.6 — The Legislature hereby finds that the solvency and creditworthiness of each individual local agency can impact the solvency and creditworthiness of the state and other local agencies within the state.
• § 53601 — This section shall apply to a local agency that is a city, a district, or other local agency that does not pool money in deposits or investments with other local agencies, other than local agencies th
• § 53601.1 — The authority of a local agency to invest funds pursuant to Section 53601 includes, in addition thereto, authority to invest in financial futures or financial option contracts in any of the investment
• § 53601.2 — As used in this article, “corporation” includes a limited liability company.
• § 53601.5 — The purchase by a local agency of any investment authorized pursuant to Section 53601 or 53601.
• § 53601.6 — (a) A local agency shall not invest any funds pursuant to this article or pursuant to Article 2 (commencing with Section 53630) in inverse floaters, range notes, or mortgage-derived, interest-only str
• § 53601.8 — Notwithstanding any other provision of this code, a local agency that has the authority under law to invest funds, at its discretion, may invest a portion of its surplus funds in deposits at a commerc
• § 53602 — The legislative body shall invest only in notes, bonds, bills, certificates of indebtedness, warrants, or registered warrants which are legal investments for savings banks in the State, provided, that
• § 53603 — The legislative body may make the investment by direct purchase of any issue of eligible securities at their original sale or after they have been issued.
• § 53604 — The legislative body may sell, or exchange for other eligible securities, and reinvest the proceeds of, the securities purchased.
• § 53605 — From time to time, the legislative body shall sell the securities so that the proceeds may be applied to the purposes for which the original purchase money was placed in the sinking fund or the treasu
• § 53606 — The bonds purchased, which were issued by the purchaser, may be canceled either in satisfaction or sinking fund obligations or otherwise.
• § 53607 — The authority of the legislative body to invest or to reinvest funds of a local agency, or to sell or exchange securities so purchased, may be delegated for a one-year period by the legislative body t
• § 53608 — The legislative body of a local agency may deposit for safekeeping with a federal or state association (as defined by Section 5102 of the Financial Code), a trust company or a state or national bank l
• § 53609 — Notwithstanding the provisions of this chapter or any other provisions of this code, funds held by a local agency pursuant to a written agreement between the agency and employees of the agency to defe
• § 53610 — (a) For purposes of this section, “Proposition 1A receivable” means the right to payment of moneys due or to become due to a local agency, pursuant to clause (iii) of subparagraph (B) of paragraph (1)
• § 53620 — Notwithstanding Section 53601 or 53635, the governing body of a local agency may invest funds designated for the payment of employee retiree health benefits in any form or type of investment deemed pr
• § 53621 — The authority of the governing body to invest or to reinvest funds intended for the payment of employee retiree health benefits, or to sell or exchange securities purchased for that purpose, may be de
• § 53622 — (a) Funds intended for the payment of employee retiree health benefits shall only be held for the purpose of providing benefits to participants in the retiree health benefit plan and defraying reasona
• § 53630 — As used in this article: (a) “Local agency” means county, city, city and county, including a chartered city or county, a community college district, or other public agency or corporation in this state
• § 53630.1 — The Legislature hereby finds that the solvency and creditworthiness of each individual local agency can impact the solvency and creditworthiness of the state and other local agencies within the state.
• § 53630.5 — (a) The definitions in Section 1670 of, and Chapter 1 (commencing with Section 99) of Division 1 of, the Financial Code apply to this section.
• § 53631 — Under those conditions as the treasurer of a local agency fixes with the approval of the legislative body, he or she may establish accounts at banks within or without the state and deposit money in th
• § 53632 — There are three classes of deposits: (a) Inactive deposits.
• § 53632.5 — There are three classes of security for deposits: (a) Securities described in subdivision (m) of Section 53651.
• § 53633 — The treasurer shall determine the amounts of money to be deposited as inactive, active, and interest-bearing active deposits, except as otherwise provided in Section 53679.
• § 53634 — The treasurer may call in money from inactive deposits and place it in active deposits as current demands require.
• § 53635 — (a) This section shall apply to a local agency that is a county, a city and county, or other local agency that pools money in deposits or investments with other local agencies, including local agencie
• § 53635.2 — As far as possible, all money belonging to, or in the custody of, a local agency, including money paid to the treasurer or other official to pay the principal, interest, or penalties of bonds, shall b
• § 53635.7 — In making any decision that involves borrowing in the amount of one hundred thousand dollars ($100,000) or more, the legislative body of the local agency shall discuss, consider, and deliberate each d
• § 53635.8 — Notwithstanding any other provision of this code, a local agency that has the authority under law to invest funds, at its discretion, may invest a portion of its surplus funds in deposits at a commerc
• § 53636 — Money so deposited is deemed to be in the treasury of the local agency.
• § 53637 — The money shall be deposited in any bank, savings association or federal association, state or federal credit union, or federally insured industrial loan company with the objective of realizing maximu
• § 53638 — (a) The deposit shall not exceed the shareholder’s equity of any depository bank.
• § 53639 — (a) Except as otherwise provided in Section 53682, the depository shall bear the expenses of transportation of money to and from the depository.
• § 53640 — Except as otherwise provided in Section 53682, the depository shall handle, collect, and pay all checks, drafts, and other exchange without cost to the local agency.
• § 53641 — When money is deposited in a depository, the treasurer or other authorized official shall take and preserve a receipt, certificate of deposit, or other evidence of the deposit as he or she requires.
• § 53642 — The money deposited may be drawn out by check or order of the treasurer or other official authorized to make such deposit.
• § 53643 — The treasurer may deposit any part of the money as agreed upon between the treasurer and the depository.
• § 53644 — If an agreement is not made: (a) Active deposits and interest thereon are subject to withdrawal upon the demand of the treasurer or other authorized official, subject to any penalties which may be pre
• § 53645 — Interest shall be computed and paid by the depository, as follows: (a) For active deposits upon which interest is payable, interest shall be computed on the average daily balance for the calendar quar
• § 53646 — (a) (1) In the case of county government, the treasurer may annually render to the board of supervisors and any oversight committee a statement of investment policy, which the board shall review and a
• § 53647 — (a) Interest on all money deposited belongs to, and shall be paid quarterly into the general fund of, the local agency represented by the officer making the deposit, unless otherwise directed by law.
• § 53647.5 — Notwithstanding any other provision of law, interest earned on any bail money deposited by a court in a bank account pursuant to Section 1463.
• § 53648 — Notwithstanding this article, the treasurer may deposit moneys in, and enter into contracts with, a state or national bank, savings association or federal association, federal or state credit union, o
• § 53648.5 — Upon the removal by federal law of the conflicting federal law or rule the agreement between the treasurer or other authorized official and a depository may be terminated by either party.
• § 53649 — The treasurer is responsible for the safekeeping of money in his or her custody and shall enter into any contract with a depository relating to any deposit which in his or her judgment is to the publi
• § 53651 — Eligible securities are any of the following: (a) United States Treasury notes, bonds, bills or certificates of indebtedness, or obligations for which the faith and credit of the United States are ple
• § 53651.2 — (a) To be an eligible security under subdivision (m) of Section 53651, a promissory note placed in a securities pool on or after January 1, 1987, shall comply with all of the following provisions: (1)
• § 53651.4 — (a) A depository that uses eligible securities of the class described in subdivision (m) of Section 53651 shall, within 90 days after the close of each calendar year or within a longer period as the a
• § 53651.6 — (a) To be an eligible security under subdivision (p) of Section 53651, a letter of credit shall be in such form and shall contain such provisions as the administrator may prescribe, and shall include
• § 53652 — To secure active or inactive deposits a depository shall at all times maintain with the agent of depository eligible securities in securities pools, pursuant to Sections 53656 and 53658, in the amount
• § 53653 — When in his or her discretion local conditions so warrant, the treasurer may waive security for the portion of any deposits as is insured pursuant to federal law, notwithstanding this article.
• § 53654 — (a) The depository may add securities to the pool or substitute securities of equal value for those in the pool at any time, but shall not interchange classes of security, as defined in Section 53632.
• § 53655 — A placement of securities by a depository with an agent of depository pursuant to this article shall have the effect of perfecting a security interest in those securities in the local agencies having
• § 53656 — (a) At the time the treasurer enters into a contract with the depository pursuant to Section 53649, he or she shall authorize the agent of depository designated by the depository, but including the tr
• § 53657 — (a) No person shall act as an agent of depository unless that person is a trust company located in this state, the trust department of a bank located in this state, or the Federal Home Loan Bank of Sa
• § 53658 — An agent of a depository may hold and pool securities to secure deposits for one or more depositories pursuant to Section 53656, but shall maintain a separate pool for each said depository.
• § 53659 — Whenever an agent of depository accepts securities pursuant to Section 53656 it may, with the authorization of the depository, place such securities for safekeeping with a Federal Reserve Bank or bran
• § 53660 — When deposits of a local agency are secured by pooled securities pursuant to Section 53656, the agent of depository shall make available to the treasurer for review at a mutually agreed upon time and
• § 53661 — (a) The Commissioner of Financial Protection and Innovation shall act as Administrator of Local Agency Security and shall be responsible for the administration of Sections 53638, 53651, 53651.
• § 53663 — (a) Each agent of depository shall report in writing to the administrator within two business days after any withdrawal, substitution, or addition of pooled securities and shall state the name and mar
• § 53664 — The individual reports specified in Sections 53654, 53660, 53661, and 53663 are not public documents and are not open to inspection by the public.
• § 53665 — If a depository fails to pay all or part of the deposits of a local agency secured by pooled securities in accordance with the contract provided for in Section 53649, and on demand of its treasurer or
• § 53666 — The only liability that shall attach to the administrator as the result of the operation of this article is that which would attach as a result of other laws of this state.
• § 53667 — (a) Expenses incurred by the administrator in carrying out the duties and responsibilities assigned to the administrator by the sections specified in subdivision (a) of Section 53661, shall be borne b
• § 53669 — The treasurer or other authorized official is not responsible for money while it is deposited pursuant to this article.
• § 53676 — The treasurer is not responsible for securities delivered to and receipted for by any bank, savings and loan association, credit union, federally insured industrial loan company, or trust company.
• § 53678 — The charges for the handling and safekeeping of any such securities are not a charge against the treasurer but shall be paid by the depository owning the securities.
• § 53679 — So far as possible, all money belonging to a local agency under the control of any of its officers or employees other than the treasurer shall, and money deposited as bail coming into the possession o
• § 53679.1 — Notwithstanding any other provision of law, the accounting practices of each county utilized prior to the effective date of this section relating to interest on trust funds shall be deemed appropriate
• § 53680 — A tax collector of a local agency shall immediately deposit with the treasurer all money under his control, unless he deposits the money in a depositary pursuant to this article under permission and i
• § 53681 — An officer or employee of a local agency who deposits money belonging to, or in the custody of, the local agency in any other manner than that prescribed in this article is subject to forfeiture of hi
• § 53682 — Notwithstanding any other provision in this article except Section 53652, the treasurer may deposit moneys in and enter into contracts with any depository, as defined in subdivision (c) of Section 536
• § 53683 — Notwithstanding any other provision in this article, the consideration payable by the agency as specified in subdivision (e) of Section 53682 shall be paid by the treasurer by applying such considerat
• § 53684 — (a) Unless otherwise provided by law, if the treasurer of any local agency, or other official responsible for the funds of the local agency, determines that the local agency has excess funds which are
• § 53686 — (a) Any audit conducted relating to the investment of local agency funds and other funds by the county treasurer in the county fund maintained pursuant to Section 53684 shall be rendered to the deposi
• § 53690 — For the purposes of this article: (a) “Local agency” means a county, city, city and county, redevelopment agency, public district, joint powers authority, or public nonprofit corporation.
• § 53691 — (a) A financial advisory relationship shall be deemed to exist when a broker, dealer, or municipal securities dealer renders, or enters into an agreement to render, financial advisory or consultant se
• § 53692 — In addition to any other requirement imposed by law, at least 15 days prior to the sale of any public securities that exceed one million dollars ($1,000,000) but do not exceed ten million dollars ($10
• § 537 — From the county seat of San Bernardino County to Sacramento it is five hundred and eight (508) miles.
• § 53700 — A county, city, municipal corporation, or district may do any and all things necessary under federal law or rule of a federal department, agency, mandatory, or authority, to secure monetary aid either
• § 53701 — Notwithstanding any other law, except limitations imposed by the Constitution, the legislative body of a county, city, district, political subdivision, or a public or municipal corporation, may accept
• § 53702 — A county, city, district, political subdivision, or a public or municipal corporation, may comply with all applicable requirements of federal laws and regulations and orders issued pursuant to the law
• § 53703 — A county or city may do all acts necessary to participate in all programs authorized by a federal housing act, including the Demonstration Cities and Metropolitan Development Act of 1966 or any other
• § 53704 — A city, county or city and county which has entered into and operated a federal grant program pursuant to the authority contained within Section 53703 may continue the operation of such program for a