31 CFR §344.0

1. (a)What is the purpose of the SLGS securities offering? The Secretary of the Treasury (the Secretary) offers for sale non-marketable State and Local Government Series (SLGS) securities to provide issuers of tax-advantaged bonds with investments from any eligible source of funds (as defined in § 344.1) to assist issuers in complying with applicable provisions of the Internal Revenue Code.
2. (b)What types of SLGS securities are governed by this part? This part governs the following SLGS securities:
   1. (1)Time Deposit securities—may be issued as:
      1. (i)Certificates of indebtedness;
      2. (ii)Notes; or
      3. (iii)Bonds.
   2. (2)Demand Deposit securities—may be issued as certificates of indebtedness.
3. (c)In what denominations are SLGS securities issued? SLGS securities are issued in the following denominations:
   1. (1)Time Deposit securities—a minimum amount of $1,000, or in any larger whole dollar amount; and
   2. (2)Demand Deposit securities—a minimum amount of $1,000, or in any larger amount, in any increment.
4. (d)How long is the offering in effect? The offering continues until terminated by the Secretary.