California · Public Utilities Code - PUC

PUC §26312: All bonds of the district, to the same extent as bonds of any other municipality, are legal for use by any state or national bank or banks in the State as security for the deposit of funds of the Stat

What this law says, in plain English

District bonds may be used by state and national banks as security for state fund deposits, with the same legal standing as bonds from other municipalities.

Read the full statutory text

All bonds of the district, to the same extent as bonds of any other municipality, are legal for use by any state or national bank or banks in the State as security for the deposit of funds of the State or of any county, city and county, city, municipality, or other public or municipal corporation within the State.

Verify at the official source: California legislative text

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