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Legal Resources | Government Code |  GC  53631  

Financial Affairs; Deposit of Funds   

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Under such conditions as the treasurer of a local agency fixes with the approval of the legislative body, he may deposit money necessary to pay the principal and interest of bonds in a bank within or without the State at the place where they are payable. This article does no apply to deposits for such purposes.

(Added by Stats. 1949, Ch. 81.)