2007 California Water Code Article 1. Deposits Generally

CA Codes (wat:24350-24352)

24350.  Any money belonging to a district may be deposited by the
officer of the district who has legal custody of the money, in
accordance with the general laws governing the deposit of public
money.


24351. Where the deposit of money is insured by the Federal Deposit
Insurance Corporation no additional security need be required from
the bank for the portion of the district's deposits so insured.



24352.  Where arrangements have been made by the district with the
Reconstruction Finance Corporation for deposit of district funds in
the Federal Reserve Bank of the United States, such deposits may be
made in that bank or any branch of it without requiring any security
or interest.