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C <br />CHAPTER 14 <br />�cctionz <br />110; Accounts, Deposits, Reports and Audits. Sections 60, 63 <br />and 64 of the charter shall be applicable to all funds and <br />moneys of each district and improvement district. Each fund <br />of each district and improvement district shall be audited <br />annually by an independent certified public accountant and <br />the cost of each such audit shall be a general administration <br />expense of the district or improvement district, the funds of <br />which are audited, except as may be otherwise provided in any <br />resolution providing for the issue of revenue bonds of a dis- <br />trict or improvement district. <br />1404 Funds to Pay Bonds and Funds for Bond Proceeds. Notwith- <br />standing any provision of this chapter to the contrary, each <br />resolution providing for the issuance of general obligation <br />bonds or revenue bonds of any district or improvement district <br />shall contain such provisions as are determined by the council <br />for (a) the funds into which the proceeds of sale of such bonds <br />shall be deposited and from which the same shall be expended, <br />(b) the funds into which the proceeds of taxes or revenues <br />shall be deposited and from which the same shall be expended <br />for the payment or security of such bonds, and (c) the dispos- <br />ition of all moneys in all such funds upon accomplishment of <br />respective purposes of such funds. <br />1405 Investment of Surplus Moneys. The treasurer may invest <br />surplus moneys in any fund (provided for or referred to in this <br />chapter) as provided in the charter and may sell or exchange <br />any securities purchased and may reinvest the proceeds of sale <br />of any such securities. <br />47 <br />