§ 16560 Treasurer Depositary Contracts

• •The Treasurer can make deals with banks to keep public money safe.
• •These deals set how long the money stays in the bank and how much interest it earns.
• •The deals also say when the money can be taken out and how it’s protected.

The state has extra money and wants to keep it safe in a bank.

The Treasurer makes a deal with the bank to hold the money, earn some interest, and keep it safe until the state needs it.