SECTIONS 98360-98361

98360.  All bonds including refunding bonds issued by a district arelegal investments for all trust funds and for the funds of allinsurance companies, banks, both commercial and savings, and trustcompanies, and for the State School Fund and for all sinking fundsunder the control of the State Treasurer. Whenever any money or fundsmay be invested in or loaned upon the security of the bonds of thedistrict; and whenever bonds of cities, cities and counties,counties, or school districts by law may be used as security for thefaithful performance or execution of any court or private trust or ofany other act, bonds of the district may be used.98361.  All bonds of the district, to the same extent as bonds ofany other municipality, are legal for use by any other municipality,are legal for use by any state or national bank or banks in the stateas security for the deposit of funds of the state or of any county,city and county, city, municipality or other public or municipalcorporation within the state.