Title

Deposit Of Public Moneys

Secretary of State No.

1914-d-1

Description

DEPOSIT OF PUBLIC MONEYS. Initiative amendment to section 16 1/2 of Article XI of Constitution. Present section unchanged except in following particulars: Authorizes banks in which public moneys are deposited to furnish, as security, bonds of districts within municipalities, or of a corporation qualified to act as sole surety on bonds or undertakings, to an amount in value, or with a penalty, of at least ten per cent over amount of deposit; provides that no deposit under section shall exceed at any time fifty per cent of paid up capital and surplus of depository bank.

Date

9-3-1914

Document Type

Initiative

Qualified

Qualified

Recommended Citation

Deposit Of Public Moneys California Initiative 1914-d-1 (1914).
https://repository.uclawsf.edu/ca_ballot_inits/9