§ 15-849 — City funds; additional investments authorized

Nebraska § 15-849

• Jurisdiction: Nebraska
• Ch. 15: Cities of the Primary Class

Text

The city treasurer may purchase certificates
of deposit from and make time deposits in banks, capital stock financial institutions,
or qualifying mutual financial institutions selected as depositories of city
funds pursuant to sections 15-846 to 15-848 . The certificates of deposit purchased
and time deposits made shall bear interest and shall be secured as prescribed
in such sections. The penal sum of such bond or the sum of such security shall
be reduced in the amount of the time deposit or certificate of deposit insured or guaranteed by the Federal
Deposit Insurance Corporation. Section 77-2366 shall apply to deposits in
capital stock financial institutions. Section 77-2365.01 shall apply to deposits
in qualifying mutual financial institutions.

Legislative History

Source: Laws 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.