Nebraska § 16-713 City funds; certificates of deposit; time deposits; security required

Nebraska Statutes

§ 16-713 — City funds; certificates of deposit; time deposits; security required

Nebraska § 16-713

Ch. 16Cities of the First Class

This text of Nebraska § 16-713 (City funds; certificates of deposit; time deposits; security required) is published on Counsel Stack Legal Research, covering Nebraska primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Neb. Rev. Stat. § 16-713 (2026).

Text

The city treasurer of a city of the first class may, upon resolution of the mayor and city council authorizing the action, 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 under the provisions of sections  16-712 ,  16-714 , and  16-715 . The certificates of deposit purchased and time deposits made shall bear interest and shall be secured as set forth in sections  16-714  and  16-715 , except that 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 sto

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The city treasurer of a city of the first class may, upon resolution of the mayor and city council authorizing the action, 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 under the provisions of sections 16-712 , 16-714 , and 16-715 . The certificates of deposit purchased and time deposits made shall bear interest and shall be secured as set forth in sections 16-714 and 16-715 , except that 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 1901, c. 18, § 85, p. 293; R.S.1913, § 4981; C.S.1922, § 4150; C.S.1929, § 16-712; R.S.1943, § 16-713; Laws 1959, c. 48, § 2, p. 235; Laws 1969, c. 84, § 4, p. 425; Laws 1989, LB 33, § 19; Laws 1992, LB 757, § 17; Laws 1996, LB 1274, § 19; Laws 2001, LB 362, § 20; Laws 2009, LB259, § 7; Laws 2016, LB704, § 181; Laws 2019, LB194, § 80.