California Statutes
§ 53682. — 53682. (Amended by Stats. 1994, Ch. 705, Sec. 11.)
California·Code GOV Government Code - GOV·Div. 2.·Title 5. DIVISION 2. CITIES, COUNTIES, AND OTHER AGENCIES·Part 1. PART 1. POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES·Ch. 4. CHAPTER 4. Financial Affairs·Art. 2. ARTICLE 2. Deposit of Funds
Notwithstanding any other provision in this article except Section 53652, the treasurer may deposit moneys in and enter into contracts with any depository, as defined in subdivision (c) of Section 53630, for services to be rendered by that depository that in the treasurer’s judgment are to the public advantage. One copy of each contract entered into under this section shall be filed with the auditor or corresponding officer of the local agency. The contract shall:
(a)Fix the duration of
compensating deposits, if any.
(b)Fix the interest rate of that compensating deposit, if any.
(c)Specify the services to be rendered by the depository.
(d)Indicate whether the depository shall bear the expenses of transportation of the money to and from the depository.
(e)Fix the consideration pa
Free access — add to your briefcase to read the full text and ask questions with AI
California § 53682. (53682. (Amended by Stats. 1994, Ch. 705, Sec. 11.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Amended by Stats. 1994, Ch. 705, Sec. 11. Effective January 1, 1995.