§ 26312 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 hold money for the city government.

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