§ 96531 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 secure deposits of public money, like state or county funds.

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

The bank can use the district's bonds as a guarantee to protect the city's money, just like they would with bonds from any other town.