95.355. City depositary. - Missouri Statutes

City depositary.

95.355. Boards of aldermen in cities of the fourth class, attheir first regular meetings in the months of January, April,July and October of each year, may select a depositary for thefunds of their respective cities, for the length of time andunder the rules and regulations that are provided and prescribedby ordinance therefor. The rights and duties of the parties tothe depositary contract are as provided in section 110.010, RSMo.The deposits shall be secured by deposit of securities asrequired by sections 110.010 and 110.020, RSMo. The depositaryshall be a banking institution doing business within the city.If such depositary cannot be selected, or such satisfactoryarrangements made, the boards of aldermen may invest the moneysupon the terms and under the conditions provided by law for theloaning of county and school moneys.

(RSMo 1939 § 7160, A.L. 1965 p. 216)

Prior revisions: 1929 § 7010, 1919 § 8461; 1909 § 9363