[Code of Federal Regulations]
[Title 31, Volume 2]
[Revised as of July 1, 2002]
From the U.S. Government Printing Office via GPO Access
[CITE: 31CFR344.0]

[Page 257]
 
                  TITLE 31--MONEY AND FINANCE: TREASURY
 
         CHAPTER II--FISCAL SERVICE, DEPARTMENT OF THE TREASURY
 
PART 344--U.S. TREASURY SECURITIES--STATE AND LOCAL GOVERNMENT SERIES--Table of Contents
 
                     Subpart A--General Information
 
Sec. 344.0  What does this part cover?


    (a) What is the purpose of the SLGS securities offering? The 
Secretary of the Treasury (the Secretary) offers for sale State and 
Local Government Series (SLGS) securities to provide issuers of tax 
exempt securities with investments from any amounts that:
    (1) Constitute gross proceeds of an issue; or
    (2) Assist in complying with applicable provisions of the Internal 
Revenue Code relating to the tax exemption.
    (b) What types of SLGS securities are governed by this part? This 
part governs the following SLGS securities:

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                                                                United States
                                                                   Treasury      United States    United States
                       SLGS securities                         certificates of   Treasury notes   Treasury bonds
                                                                 indebtedness
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(1) Time Deposit.............................................               X                X                X
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(2) Demand Deposit...........................................               X   ...............  ...............
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(3) Special Zero Interest (Discontinued offering on October                 X                X   ...............
 28, 1996)...................................................
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    (c) In what denominations are SLGS securities issued? SLGS 
securities are issued in the following denominations:
    (1) Time deposit securities--a minimum amount of $1,000, or in any 
larger whole dollar amount; and
    (2) Demand deposit securities--a minimum amount of $1,000, or in any 
larger amount, in any increment.
    (d) For how long is the offering in effect? The offering continues 
until terminated by the Secretary.