110.140. Procedure for bidders--disclosure of bids a misdemeanor. - Missouri Statutes

Procedure for bidders--disclosure of bids a misdemeanor.

110.140. 1. Any banking corporation or association in the countydesiring to bid shall deliver to the clerk of the commission, on or beforethe first Monday of July at which the selection of depositaries is to bemade, a sealed proposal, stating the rate of interest that the bankingcorporation, or association offers to pay on the funds of the county forthe term of two or four years next ensuing the date of the bid, or, if theselection is made for a less term than two or four years, as provided insections 110.180 and 110.190, then for the time between the date of the bidand the next regular time for the selection of depositaries as fixed bysection 110.130.

2. Each bid shall be accompanied by a certified check for not lessthan the proportion of one and one-half percent of the county revenue ofthe preceding year as the sum of the part or parts of funds bid for bearsto the whole number of the parts, as a guaranty of good faith on the partof the bidder, that if his or her bid should be the highest he or she willprovide the security required by section 110.010. Upon his or her failureto give the security required by law, the amount of the certified checkshall go to the county as liquidated damages, and the commission may orderthe county clerk to readvertise for bids.

3. It shall be a misdemeanor, and punishable as such, for the clerkof the commission, or any deputy of the clerk, to directly or indirectlydisclose the amount of any bid before the selection of depositaries.

(RSMo 1939 § 13848, A.L. 1959 S.B. 77, A.L. 1996 H.B. 1469 merged with S.B. 914, A.L. 2007 S.B. 22 merged with S.B. 497)

Prior revisions: 1929 § 12185; 1919 § 9583; 1909 § 3804