2007 California Government Code Article 1.7. Local District Bonds

CA Codes (gov:53226-53226.3)

53226.  This article shall apply to districts other than school
districts.


53226.1.  The legislative body of any district electing to adopt by
resolution the procedures in this chapter shall, prior to an election
of officers of the districts, prescribe the amounts of officials'
bonds of the officers of the district.



53226.2.  As an alternative or supplementary to the bonds required
by this article, the legislative body may establish a master bond
pursuant to Section 1481.


53226.3.  The legislative body of a district, other than a school
district, may, by resolution, insure against losses caused by an
employee or officer of the district in lieu of providing a bond or
bonds.  After the resolution is adopted, any requirements of law
regarding faithful performance or revolving fund bonds shall be
inapplicable to the district or any officer or employee of the
district.  The amount of the insurance shall be determined pursuant
to Sections 1480 and 1481 and shall give the same or greater
protection to the district that a bond would provide in indemnifying
the district against any loss caused by the employee or officer of
the district.