reglab/housing_qa huggingface dataset:
CA Govt Code § 53608 (2021)
2021 California Code|Government Code - GOV|TITLE 5 - LOCAL AGENCIES|DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES|PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES|CHAPTER 4 - Financial Affairs|ARTICLE 1 - Investment of Surplus|Section 53608.

53608.  The legislative body of a local agency may deposit for safekeeping with a federal or state association (as defined by Section 5102 of the Financial Code), a trust company or a state or national bank located within this state or with the Federal Reserve Bank of San Francisco or any branch thereof within this state, or with any Federal Reserve bank or with any state or national bank located in any city designated as a reserve city by the Board of Governors of the Federal Reserve System, the bonds, notes, bills, debentures, obligations, certificates of indebtedness, warrants, or other evidences of indebtedness in which the money of the local agency is invested pursuant to this article or pursuant to other legislative authority. The local agency shall take from such financial institution a receipt for securities so deposited. The authority of the legislative body to deposit for safekeeping may be delegated by the legislative body to the treasurer of the local agency; the treasurer shall not be responsible for securities delivered to and receipted for by a financial institution until they are withdrawn from the financial institution by the treasurer.(Amended by Stats. 1985, Ch. 983, Sec. 17. Effective September 26, 1985.)
CA Govt Code § 53609 (2021)
2021 California Code|Government Code - GOV|TITLE 5 - LOCAL AGENCIES|DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES|PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES|CHAPTER 4 - Financial Affairs|ARTICLE 1 - Investment of Surplus|Section 53609.

53609.  Notwithstanding the provisions of this chapter or any other provisions of this code, funds held by a local agency pursuant to a written agreement between the agency and employees of the agency to defer a portion of the compensation otherwise receivable by the agency’s employees and pursuant to a plan for such deferral as adopted by the governing body of the agency, may be invested in the types of investments set forth in Sections 53601 and 53602 of this code, and may additionally be invested in corporate stocks, bonds, and securities, mutual funds, savings and loan accounts, credit union accounts, life insurance policies, annuities, mortgages, deeds of trust, or other security interests in real or personal property. Nothing herein shall be construed to permit any type of investment prohibited by the Constitution.Deferred compensation funds are public pension or retirement funds for the purposes of Section 17 of Article XVI of the Constitution.(Amended by Stats. 1979, Ch. 373.)
CA Govt Code § 53610 (2021)
2021 California Code|Government Code - GOV|TITLE 5 - LOCAL AGENCIES|DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES|PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES|CHAPTER 4 - Financial Affairs|ARTICLE 1 - Investment of Surplus|Section 53610.

53610.  (a) For purposes of this section, “Proposition 1A receivable” means the right to payment of moneys due or to become due to a local agency, pursuant to clause (iii) of subparagraph (B) of paragraph (1) of subdivision (a) of Section 25.5 of Article XIII of the California Constitution and Section 100.06 of the Revenue and Taxation Code.(b) Notwithstanding any other law, a local agency may purchase, with its revenue, Proposition 1A receivables sold pursuant to Section 53999.(c) A purchaser of Proposition 1A receivables pursuant to this section shall not offer them for sale pursuant to Section 6588.(Added by Stats. 2009, Ch. 634, Sec. 5. (SB 67) Effective October 19, 2009.)
CA Govt Code § 53620 (2021)
2021 California Code|Government Code - GOV|TITLE 5 - LOCAL AGENCIES|DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES|PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES|CHAPTER 4 - Financial Affairs|ARTICLE 1.5 - Health Fund Investments|Section 53620.

53620.  Notwithstanding Section 53601 or 53635, the governing body of a local agency may invest funds designated for the payment of employee retiree health benefits in any form or type of investment deemed prudent by the governing body pursuant to Section 53622.(Added by Stats. 1998, Ch. 996, Sec. 7. Effective January 1, 1999.)
CA Govt Code § 53621 (2021)
2021 California Code|Government Code - GOV|TITLE 5 - LOCAL AGENCIES|DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES|PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES|CHAPTER 4 - Financial Affairs|ARTICLE 1.5 - Health Fund Investments|Section 53621.

53621.  The authority of the governing body to invest or to reinvest funds intended for the payment of employee retiree health benefits, or to sell or exchange securities purchased for that purpose, may be delegated by the governing body to designated officers.(Added by Stats. 1998, Ch. 996, Sec. 7. Effective January 1, 1999.)
CA Govt Code § 53622 (2021)
2021 California Code|Government Code - GOV|TITLE 5 - LOCAL AGENCIES|DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES|PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES|CHAPTER 4 - Financial Affairs|ARTICLE 1.5 - Health Fund Investments|Section 53622.

53622.  (a) Funds intended for the payment of employee retiree health benefits shall only be held for the purpose of providing benefits to participants in the retiree health benefit plan and defraying reasonable expenses of administering that plan.(b) The governing body or designated officer, when making investments of the funds, shall discharge its duties with respect to the investment of the funds.(1) Solely in the interest of, and for the exclusive purposes of providing benefits to, participants in the retiree health benefit plan, minimizing employer contributions thereto, and defraying reasonable expenses of administering the plan.(2) With the care, skill, prudence, and diligence under the circumstances then prevailing that a prudent person acting in a like capacity and familiar with these matters would use in the conduct of an enterprise of a like character and with like aims.(3) Shall diversify the investments of the funds so as to minimize the risk of loss and to maximize the rate of return, unless under the circumstances it is clearly prudent not to do so.(Added by Stats. 1998, Ch. 996, Sec. 7. Effective January 1, 1999.)
CA Govt Code § 53630 (2021)
2021 California Code|Government Code - GOV|TITLE 5 - LOCAL AGENCIES|DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES|PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES|CHAPTER 4 - Financial Affairs|ARTICLE 2 - Deposit of Funds|Section 53630.

53630.  As used in this article:(a) “Local agency” means county, city, city and county, including a chartered city or county, a community college district, or other public agency or corporation in this state.(b) “Treasurer” means treasurer of the local agency.(c) “Depository” means a state or national bank, savings association or federal association, a state or federal credit union, or a federally insured industrial loan company, in this state in which the moneys of a local agency are deposited.(d) “Agent of depository” means a trust company or trust department of a state or national bank located in this state, including the trust department of a depository where authorized, and the Federal Home Loan Bank of San Francisco, which is authorized to act as an agent of depository for the purposes of this article pursuant to Section 53657.(e) “Security” means any of the eligible securities or obligations listed in Section 53651.(f) “Pooled securities” means eligible securities held by an agent of depository for a depository and securing deposits of one or more local agencies.(g) “Administrator” means the Administrator of Local Agency Security of the State of California.(h) “Savings association or federal association” means a savings association, savings and loan association, or savings bank as defined by Section 5102 of the Financial Code.(i) “Federally insured industrial loan company” means an industrial loan company licensed under Division 7 (commencing with Section 18000) of the Financial Code, the investment certificates of which are insured by the Federal Deposit Insurance Corporation.(j) “Corporation” includes a limited liability company.(Amended by Stats. 2004, Ch. 118, Sec. 19.7. Effective January 1, 2005.)
CA Govt Code § 53630.1 (2021)
2021 California Code|Government Code - GOV|TITLE 5 - LOCAL AGENCIES|DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES|PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES|CHAPTER 4 - Financial Affairs|ARTICLE 2 - Deposit of Funds|Section 53630.1.

53630.1.  The Legislature hereby finds that the solvency and creditworthiness of each individual local agency can impact the solvency and creditworthiness of the state and other local agencies within the state. Therefore, to protect the solvency and creditworthiness of the state and all of its political subdivisions, the Legislature hereby declares that the deposit and investment of public funds by local officials and local agencies is an issue of statewide concern.(Added by Stats. 1995, Ch. 784, Sec. 16. Effective January 1, 1996.)
CA Govt Code § 53630.5 (2021)
2021 California Code|Government Code - GOV|TITLE 5 - LOCAL AGENCIES|DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES|PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES|CHAPTER 4 - Financial Affairs|ARTICLE 2 - Deposit of Funds|Section 53630.5.

53630.5.  (a) The definitions in Section 1670 of, and Chapter 1 (commencing with Section 99) of Division 1 of, the Financial Code apply to this section.(b) In this article, for purposes of being a depository of moneys belonging to or being in the custody of a local agency, the phrases “state or national bank located in this state,” “state or national bank,” “state or national bank in this state,” and “state or national banks in the state” include, without limitation, any of the following:(1) A California branch office of a foreign (other state) state bank that the bank is authorized to maintain under the law of its domicile and federal law.(2) A California branch office of a foreign (other state) national bank that the bank is authorized to maintain under federal law.(3) A California branch office of a foreign (other nation) bank that the bank is licensed to maintain under Article 3 (commencing with Section 1800) of Chapter 20 of Division 1.1 of the Financial Code.(4) A California federal branch of a foreign (other nation) bank that the bank is authorized to maintain under federal law.(Amended by Stats. 2018, Ch. 92, Sec. 113. (SB 1289) Effective January 1, 2019.)
CA Govt Code § 53631 (2021)
2021 California Code|Government Code - GOV|TITLE 5 - LOCAL AGENCIES|DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES|PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES|CHAPTER 4 - Financial Affairs|ARTICLE 2 - Deposit of Funds|Section 53631.

53631.  Under those conditions as the treasurer of a local agency fixes with the approval of the legislative body, he or she may establish accounts at banks within or without the state and deposit money in those accounts to the extent necessary to pay the principal and interest of bonds to pay any warrant that has been presented for payment, or to fund any electronic disbursement of funds from the treasury of the local agency. This article does not apply to deposits for those purposes.(Amended by Stats. 2001, Ch. 176, Sec. 15. Effective January 1, 2002.)
CA Govt Code § 53632 (2021)
2021 California Code|Government Code - GOV|TITLE 5 - LOCAL AGENCIES|DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES|PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES|CHAPTER 4 - Financial Affairs|ARTICLE 2 - Deposit of Funds|Section 53632.

53632.  There are three classes of deposits:(a) Inactive deposits.(b) Active deposits.(c) Interest-bearing active deposits.(Amended by Stats. 1983, Ch. 105, Sec. 1.5.)
CA Govt Code § 53632.5 (2021)
2021 California Code|Government Code - GOV|TITLE 5 - LOCAL AGENCIES|DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES|PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES|CHAPTER 4 - Financial Affairs|ARTICLE 2 - Deposit of Funds|Section 53632.5.

53632.5.  There are three classes of security for deposits:(a) Securities described in subdivision (m) of Section 53651.(b) Securities described in subdivision (p) of Section 53651.(c) Securities enumerated in Section 53651, except for those described in subdivisions (m) and (p) of that section.(Amended by Stats. 1986, Ch. 1132, Sec. 2.)
CA Govt Code § 53633 (2021)
2021 California Code|Government Code - GOV|TITLE 5 - LOCAL AGENCIES|DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES|PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES|CHAPTER 4 - Financial Affairs|ARTICLE 2 - Deposit of Funds|Section 53633.

53633.  The treasurer shall determine the amounts of money to be deposited as inactive, active, and interest-bearing active deposits, except as otherwise provided in Section 53679.(Amended by Stats. 1983, Ch. 105, Sec. 3.)
CA Govt Code § 53634 (2021)
2021 California Code|Government Code - GOV|TITLE 5 - LOCAL AGENCIES|DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES|PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES|CHAPTER 4 - Financial Affairs|ARTICLE 2 - Deposit of Funds|Section 53634.

53634.  The treasurer may call in money from inactive deposits and place it in active deposits as current demands require. When there is money in his possession for which there is no demand as inactive deposits, he may place it as active deposits.(Added by Stats. 1949, Ch. 81.)
CA Govt Code § 53635 (2021)
2021 California Code|Government Code - GOV|TITLE 5 - LOCAL AGENCIES|DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES|PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES|CHAPTER 4 - Financial Affairs|ARTICLE 2 - Deposit of Funds|Section 53635.

53635.  (a) This section shall apply to a local agency that is a county, a city and county, or other local agency that pools money in deposits or investments with other local agencies, including local agencies that have the same governing body. However, Section 53601 shall apply to all local agencies that pool money in deposits or investments exclusively with local agencies that have the same governing body.This section shall be interpreted in a manner that recognizes the distinct characteristics of investment pools and the distinct administrative burdens on managing and investing funds on a pooled basis pursuant to Article 6 (commencing with Section 27130) of Chapter 5 of Division 2 of Title 3.A local agency that is a county, a city and county, or other local agency that pools money in deposits or investments with other agencies may invest in commercial paper pursuant to subdivision (h) of Section 53601, except that the local agency shall be subject to the following concentration limits:(1) No more than 40 percent of the local agency’s money may be invested in eligible commercial paper.(2) No more than 10 percent of the total assets of the investments held by a local agency may be invested in any one issuer’s commercial paper.(b) Notwithstanding Section 53601, the City of Los Angeles shall be subject to the concentration limits of this section for counties and for cities and counties with regard to the investment of money in eligible commercial paper.(c) A local agency subject to this section may invest in commercial paper, debt securities, or other obligations of a public bank, as defined in Section 57600.(Amended by Stats. 2019, Ch. 442, Sec. 12. (AB 857) Effective January 1, 2020.)
CA Govt Code § 53635.2 (2021)
2021 California Code|Government Code - GOV|TITLE 5 - LOCAL AGENCIES|DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES|PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES|CHAPTER 4 - Financial Affairs|ARTICLE 2 - Deposit of Funds|Section 53635.2.

53635.2.  As far as possible, all money belonging to, or in the custody of, a local agency, including money paid to the treasurer or other official to pay the principal, interest, or penalties of bonds, shall be deposited for safekeeping in state or national banks, public banks, savings associations, federal associations, credit unions, or federally insured industrial loan companies in this state selected by the treasurer or other official having legal custody of the money; or may be invested in the investments set forth in Section 53601. To be eligible to receive local agency money, a bank, savings association, federal association, or federally insured industrial loan company shall have received an overall rating of not less than “satisfactory” in its most recent evaluation by the appropriate federal financial supervisory agency of its record of meeting the credit needs of California’s communities, including low- and moderate-income neighborhoods, pursuant to Section 2906 of Title 12 of the United States Code. Sections 53601.5 and 53601.6 shall apply to all investments that are acquired pursuant to this section.(Amended by Stats. 2019, Ch. 442, Sec. 13. (AB 857) Effective January 1, 2020.)
CA Govt Code § 53635.7 (2021)
2021 California Code|Government Code - GOV|TITLE 5 - LOCAL AGENCIES|DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES|PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES|CHAPTER 4 - Financial Affairs|ARTICLE 2 - Deposit of Funds|Section 53635.7.

53635.7.  In making any decision that involves borrowing in the amount of one hundred thousand dollars ($100,000) or more, the legislative body of the local agency shall discuss, consider, and deliberate each decision as a separate item of business on the agenda of its meeting as prescribed in Chapter 9 (commencing with Section 54950). As used in this section, “borrowing” does not include bank overdrafts or security lending.(Amended by Stats. 2001, Ch. 176, Sec. 16. Effective January 1, 2002.)
CA Govt Code § 53636 (2021)
2021 California Code|Government Code - GOV|TITLE 5 - LOCAL AGENCIES|DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES|PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES|CHAPTER 4 - Financial Affairs|ARTICLE 2 - Deposit of Funds|Section 53636.

53636.  Money so deposited is deemed to be in the treasury of the local agency.(Added by Stats. 1949, Ch. 81.)
CA Govt Code § 53637 (2021)
2021 California Code|Government Code - GOV|TITLE 5 - LOCAL AGENCIES|DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES|PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES|CHAPTER 4 - Financial Affairs|ARTICLE 2 - Deposit of Funds|Section 53637.

53637.  The money shall be deposited in any bank, savings association or federal association, state or federal credit union, or federally insured industrial loan company with the objective of realizing maximum return, consistent with prudent financial management, except that money shall not be deposited in any state or federal credit union if a member of the legislative body of a local agency, or any person with investment decisionmaking authority of the administrative office, manager’s office, budget office, auditor-controller’s office, or treasurer’s office of the local agency, also serves on the board of directors, or any committee appointed by the board of directors, or the credit committee or supervisory committee, of the state or federal credit union.(Amended by Stats. 1998, Ch. 81, Sec. 2. Effective January 1, 1999.)
CA Govt Code § 53638 (2021)
2021 California Code|Government Code - GOV|TITLE 5 - LOCAL AGENCIES|DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES|PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES|CHAPTER 4 - Financial Affairs|ARTICLE 2 - Deposit of Funds|Section 53638.

53638.  (a) The deposit shall not exceed the shareholder’s equity of any depository bank. For the purposes of this subdivision, shareholder’s equity shall be determined in accordance with Section 463 of the Financial Code, but shall be deemed to include capital notes and debentures.(b) The deposit shall not exceed the total of the net worth of any depository savings association or federal association, except that deposits not exceeding a total of five hundred thousand dollars ($500,000) may be made to a savings association or federal association without regard to the net worth of that depository, if such deposits are insured or secured as required by law.(c) The deposit to the share accounts of any regularly chartered credit union shall not exceed the total of the unimpaired capital and surplus of the credit union, as defined by rule of the Commissioner of Business Oversight, except that the deposit to any credit union share account in an amount not exceeding five hundred thousand dollars ($500,000) may be made if the share accounts of that credit union are insured or guaranteed pursuant to Section 14858 of the Financial Code or are secured as required by law.(d) The deposit in investment certificates of a federally insured industrial loan company shall not exceed the total of the unimpaired capital and surplus of the insured industrial loan company.(Amended by Stats. 2016, Ch. 277, Sec. 12. (AB 2907) Effective January 1, 2017.)
CA Govt Code § 53639 (2021)
2021 California Code|Government Code - GOV|TITLE 5 - LOCAL AGENCIES|DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES|PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES|CHAPTER 4 - Financial Affairs|ARTICLE 2 - Deposit of Funds|Section 53639.

53639.  (a) Except as otherwise provided in Section 53682, the depository shall bear the expenses of transportation of money to and from the depository. If, pursuant to a contract between the treasurer and the depository, the depository is not required to bear the expense of transportation of money to and from the depository, the treasurer shall secure those transportation services by separate agreement or contract.(b) (1) A separate agreement or contract for transportation services includes an agreement to procure bank courier or armored car transport services and a contract for the pickup and transportation of moneys received by the treasurer or any other department requiring secure transportation.(2) The terms of a separate agreement or contract for transportation services may include, but are not limited to, a specification of costs, frequency of pickup, locations of pickup, and any other transportation services that are necessary for the conduct of the treasurer’s office.(Amended by Stats. 2019, Ch. 258, Sec. 1. (SB 789) Effective January 1, 2020.)
CA Govt Code § 53640 (2021)
2021 California Code|Government Code - GOV|TITLE 5 - LOCAL AGENCIES|DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES|PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES|CHAPTER 4 - Financial Affairs|ARTICLE 2 - Deposit of Funds|Section 53640.

53640.  Except as otherwise provided in Section 53682, the depository shall handle, collect, and pay all checks, drafts, and other exchange without cost to the local agency.(Amended by Stats. 1986, Ch. 248, Sec. 92.)
CA Govt Code § 53641 (2021)
2021 California Code|Government Code - GOV|TITLE 5 - LOCAL AGENCIES|DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES|PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES|CHAPTER 4 - Financial Affairs|ARTICLE 2 - Deposit of Funds|Section 53641.

53641.  When money is deposited in a depository, the treasurer or other authorized official shall take and preserve a receipt, certificate of deposit, or other evidence of the deposit as he or she requires.(Amended by Stats. 1986, Ch. 248, Sec. 93.)
CA Govt Code § 53642 (2021)
2021 California Code|Government Code - GOV|TITLE 5 - LOCAL AGENCIES|DIVISION 2 - CITIES, COUNTIES, AND OTHER AGENCIES|PART 1 - POWERS AND DUTIES COMMON TO CITIES, COUNTIES, AND OTHER AGENCIES|CHAPTER 4 - Financial Affairs|ARTICLE 2 - Deposit of Funds|Section 53642.

53642.  The money deposited may be drawn out by check or order of the treasurer or other official authorized to make such deposit.(Amended by Stats. 1953, Ch. 670.)