17-608 Treasurer; surplus funds; investments authorized; interest. - Nebraska Statutes

17-608. Treasurer; surplus funds; investments authorized; interest.When the treasurer of any such city or village holds funds of any such city or village in excess of the amount required for maintenance or set aside for betterments and improvements, the mayor and council or the board of trustees may, by resolution, direct and authorize said treasurer to invest said surplus funds in the outstanding bonds or registered warrants of said city or village, bonds and debentures issued either singly or collectively by any of the twelve federal land banks, the twelve intermediate credit banks, or the thirteen banks for cooperatives under the supervision of the Farm Credit Administration, or in interest-bearing bonds or the obligations of the United States. The interest on such bonds or warrants shall be credited to the fund out of which said bonds or warrants were purchased. SourceLaws 1927, c. 38, § 1, p. 169; Laws 1929, c. 45, § 1, p. 193; C.S.1929, § 17-515; Laws 1931, c. 33, § 1, p. 125; Laws 1935, c. 140, § 2, p. 516; Laws 1937, c. 31, § 1, p. 155; C.S.Supp.,1941, § 17-515; Laws 1943, c. 27, § 2(2), p. 122; R.S.1943, § 17-608; Laws 1959, c. 263, § 6, p. 927.