Section 9527 Of Article 9. Refunding Bonds From California Water Code >> Division 5. >> Part 5. >> Chapter 6. >> Article 9.

. Whenever bonds of cities, cities and counties, counties or school districts may by law be issued as security for the performance of any act or as security for the deposit of public funds of the State or of any county, city and county, municipality or other public corporation or political subdivision in any State or National bank or banks, refunding bonds of the drainage district may be so used.