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Board - Use of funds prohibited when.

San José Municipal Code § 3.32.070
in effect
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3.32.070 - Board - Use of funds prohibited when. Except as provided in this chapter, no member or employee of the board of administration shall have any interest, direct or indirect, in the making of any investment, or in the gains or profits accruing therefrom. No member of the retirement plan and no member or employee of the said board, directly or indirectly, for himself or as an agent or partner of others, shall borrow any of its funds or in any manner use the same except to make such current and necessary payments as are authorized by the board; nor shall any member or employee of the board become an endorser or surety or become in any manner an obligor for moneys invested by the board. (Prior code § 2903.6.)
Source: City of San José, Municipal Code (Municode Library, library.municode.com)URL: https://library.municode.com/ca/san_jose/codes/code_of_ordinances?nodeId=TIT3PE_IIREPL_CH3.32POFIDEREPL_3.32.070BOSEFUPRWHFetched: 11/1/2026

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