SECTIONS 98360-98361 - California Statutes

PUBLIC UTILITIES CODE

SECTION 98360-98361

98360. All bonds including refunding bonds issued by a district are
legal investments for all trust funds and for the funds of all
insurance companies, banks, both commercial and savings, and trust
companies, and for the State School Fund and for all sinking funds
under the control of the State Treasurer. Whenever any money or funds
may be invested in or loaned upon the security of the bonds of the
district; and whenever bonds of cities, cities and counties,
counties, or school districts by law may be used as security for the
faithful performance or execution of any court or private trust or of
any other act, bonds of the district may be used.

98361. 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.