110.080. Bids for depositaries--guarantee--disclosure of bids a misdemeanor. - Missouri Statutes

Bids for depositaries--guarantee--disclosure of bids a misdemeanor.

110.080. 1. Any banking corporation, association or trust company inthe city desiring to bid shall deliver to the secretary of the board on orbefore twelve o'clock noon on the day of the meeting at which thedepositary is to be selected a sealed bid stating the rate of interest thatit offers to pay on the funds and moneys of the institution for the term ofup to four years next ensuing the date of the bid.

2. Each bid shall be accompanied by a check in favor of theinstitution on some solvent banking corporation, association, or trustcompany in the city, duly certified, for not less than one thousanddollars, as a guaranty of good faith on the part of the bidder that if itsbid is accepted by the board it will give the security required by section110.010.

3. It is a misdemeanor for the secretary of the board to directly orindirectly disclose the amount of any bid before the selection of thedepositary or depositaries.

(RSMo 1939 § 9374, A.L. 1959 S.B. 77, A.L. 2004 S.B. 1320)

Prior revisions: 1929 § 8677; 1919 § 12320