§ 98361 Bond Investment Eligibility

Public Utilities Code·California

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Key Takeaways

•Bonds from this district can be used like money from any other town or city.
•Banks in the state can use these bonds to keep money safe for the state or any local government.
•This rule was added in 1967.

Example

A city wants to save money in a bank but needs something valuable to promise they'll pay it back.

The city can use bonds from this district as that promise, just like they could use bonds from any other city.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source

View on CA.gov

§ 98361 Bond Investment Eligibility

All bonds of the district, to the same extent as bonds of any other municipality, are legal for use by 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. (Added by Stats. 1967, Ch. 978.)

Last verified: January 23, 2026

Key Terms

corporation municipality bonds security

References

Official text at leginfo.legislature.ca.gov
California Legislature. Public Utilities Code. Section 98361.

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References