15-849 City funds; additional investments authorized. - Nebraska Statutes

15-849. City funds; additional investmentsauthorized.The city treasurer may purchase certificatesof deposit from and make time deposits in banks, capital stock financial institutions,or qualifying mutual financial institutions selected as depositories of cityfunds pursuant to sections 15-846 to 15-848. The certificates of deposit purchasedand time deposits made shall bear interest and shall be secured as prescribedin such sections. The penal sum of such bond or the sum of such security shallbe reduced in the amount of the time deposit or certificate of deposit insured or guaranteed by the FederalDeposit Insurance Corporation. Section 77-2366 shall apply to deposits incapital stock financial institutions. Section 77-2365.01 shall apply to depositsin qualifying mutual financial institutions. SourceLaws 1987, LB 440, § 6; Laws 1989, LB 33, § 17; Laws 1992, LB 757, § 16; Laws 1996, LB 1274, § 17; Laws 2001, LB 362, § 18; Laws 2009, LB259, § 6.