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GOVERNMENT CODE - GOV <br />TITLE 2. GOVERNMENT OF THE STATE OF CALIFORNIA \[8000 - 22980\] <br />( Title2 enacted by Stats. 1943, Ch. 134. ) <br />DIVISION 4. FISCAL AFFAIRS \[16100 - 17700\] <br />( Division 4 added by Stats. 1945, Ch. 119. ) <br />PART 2. STATE FUNDS \[16300 - 16649.95\] <br />( Part 2 added by Stats. 1945, Ch. 120. ) <br />CHAPTER 2. Special Funds \[16346 - 16429.4\] <br />( Chapter 2 added by Stats. 1945, Ch. 120. ) <br />ARTICLE 11. Local Agency Investment Fund \[16429.1 - 16429.4\] <br />( Article 11 added by Stats. 1976, Ch. 730. ) <br />GOVERNMENTCODE <br />SECTION <br />16429.1. <br />(a)ThereisintrustinthecustodyoftheTreasurertheLocalAgencyInvestmentFund,whichfundishereby <br />created.TheControllershallmaintain a separateaccountforeachgovernmentalunithavingdepositsinthis <br />fund. <br />(b)Notwithstandinganyotherlaw, a localgovernmentalofficial,withtheconsentofthegoverningbodyof <br />thatagency,havingmoneyinitstreasurynotrequiredforimmediateneeds,mayremitthemoneytothe <br />TreasurerfordepositintheLocalAgencyInvestmentFundforthepurposeofinvestment. <br />(c)Notwithstandinganyotherlaw,anofficer ofanynonprofitcorporationwhosemembershipisconfinedto <br />publicagenciesorpublic officials, oranofficerof a qualifiedquasi-governmentalagency,withtheconsentof <br />thegoverningbodyofthatagency,havingmoneyinitstreasurynotrequired forimmediateneeds,mayremit <br />themoneytotheTreasurerfordepositintheLocalAgencyInvestmentFundforthepurposeofinvestment. <br />(d)Notwithstandinganyotherlaworprovisionofthissection, a localagency,withtheapprovalofits <br />governingbody,maydepositintheLocalAgencyInvestmentFundproceedsofthe issuance ofbonds, <br />notes,certificatesofparticipation,orotherevidencesofindebtednessoftheagencypendingexpenditureof <br />theproceedsfortheauthorizedpurposeoftheirissuance.Inconnectionwiththesedepositsofproceeds, <br />theLocalAgencyInvestmentFundisauthorizedtoreceiveanddisbursemoneys,andtoprovide <br />information,directlywithortoanauthorizedofficerof a trusteeorfiscalagentengagedbythelocalagency, <br />the LocalAgencyInvestmentFundisauthorizedtoholdinvestmentsinthenameandfortheaccountofthat <br />trusteeor fiscal agent,andtheControllershallmaintain a separateaccountforeachdepositofproceeds. <br />(e)Thelocalgovernmentalunit,thenonprofitcorporation,orthequasi-governmentalagencyhasthe <br />exclusivedeterminationofthelengthoftimeitsmoneywillbeondepositwiththeTreasurer. <br />(f)Thetrusteeor fiscal agentofthelocalgovernmentalunithastheexclusivedeterminationofthelengthof <br />timeproceedsfromtheissuanceofbondswillbeondepositwiththeTreasurer. <br />(g)TheLocalInvestmentAdvisoryBoardshalldeterminethosequasi-governmentalagencieswhichqualify <br />toparticipateintheLocalAgencyInvestmentFund. <br />(h)TheTreasurermayrefuseto accept depositsintothefundif,inthejudgmentoftheTreasurer,the <br />depositwouldadverselyaffectthestate’sportfolio. <br />*´«¸ ΐǾ ΑΏΐ9- <br />C¨³¸ ®¥ 3 ­³  ȃ !­­´ « <br />0 ¦¤ 26 <br />3³ ³¤¬¤­³ ®¥ )­µ¤²³¬¤­³ 0®«¨¢¸*´­¤ ΒΏǾ ΑΏ20 <br /> <br />