Section 16560 Of Article 4. Contracts From California Government Code >> Division 4. >> Title 2. >> Part 2. >> Chapter 4. >> Article 4.

. The Treasurer shall enter into such contracts with such depositaries as in his judgment will be to the public advantage so to do. The contracts shall fix the duration of deposits and the rates of interest to be received, if any, the interest payment dates, and provide conditions for their withdrawal, repayment, and security.