§ 40261 District Bond Security Use

• •Bonds from this district can be used as security by banks in the state.
• •These bonds are treated the same as bonds from any other city or town.
• •Banks can use these bonds to protect money deposits from the state or local governments.

A local bank wants to keep the city's money safe.

The bank can use bonds from this district as a guarantee, just like they would use bonds from any other city.