Section 95.280

Title VII CITIES, TOWNS AND VILLAGES

Chapter 95

Effective - 13 Oct 1965, 3 histories, see footnote   (history) 

  95.280.  Depositary for city funds, how selected. — Subject to the provisions of section 110.030, RSMo, the city council, at its regular meetings in July of each year, may receive sealed proposals for the deposit of the city funds from banking institutions doing business within the city that desire to be selected as the depositary of the funds of the city. Notice that bids will be received shall be published by the city clerk not less than one nor more than four weeks before the meeting, in some newspaper published in the city. Any banking institution doing business in the city, desiring to bid, shall deliver to the city clerk, on or before the day of the meeting, a sealed proposal stating the rate percent upon daily balances that the banking institution offers to pay to the city for the privilege of being the depositary of the funds of the city for the year next ensuing the date of the meeting; or, in the event that the selection is made for a less term than one year, as herein provided, then for the time between the date of the bid and the next regular time for the selection of a depositary. It is a misdemeanor for the city clerk or other person to disclose directly or indirectly the amount of any bid to any person before the selection of the depositary.

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(RSMo 1939 § 6939, A.L. 1965 p. 216)

Prior revisions: 1929 § 6793; 1919 § 8280; 1909 § 9217