California Government Code 53602 – The legislative body shall invest only in notes, bonds, bills, …
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The legislative body shall invest only in notes, bonds, bills, certificates of indebtedness, warrants, or registered warrants which are legal investments for savings banks in the State, provided, that the board of supervisors of a county may, by a four-fifths vote thereof, invest in notes, warrants or other evidences of indebtedness of public districts wholly or partly within the county, whether or not such notes, warrants, or other evidences of indebtedness are legal investments for savings banks.
(Amended by Stats. 1954, 1st Ex. Sess., Ch. 10.)
Terms Used In California Government Code 53602
- County: includes city and county. See California Government Code 19
- State: means the State of California, unless applied to the different parts of the United States. See California Government Code 18