57-128. DESIGNATION OF DEPOSITORY. The supervising board shall designate one or more financial institutions within the boundaries of the depositing unit which are qualified public depositories as defined by section 57-110, Idaho Code, and which is in compliance with section 57-113, Idaho Code, as depository or depositories for the moneys required to be kept by the treasurer. Such designation shall be determined by competitive bidding or by other means generally accepted as standard business practice. In no case shall the deposit or deposits of public funds of any depositing unit in any public depository, exceed at any one (1) time in the aggregate the total of the capital and surplus or reserves and unallocated or undivided earnings, as applicable, of such public depository. In the event that any financial institution has been designated as a depository under this chapter, such designation shall continue in force until revoked by the supervising board of the depositing unit.
History:
[57-128, added 1983, ch. 38, sec. 5, p. 91; am. 1986, ch. 74, sec. 11, p. 226.]
Structure Idaho Code
Title 57 - PUBLIC FUNDS IN GENERAL
Chapter 1 - PUBLIC DEPOSITORY LAW
Section 57-102 - SCOPE OF ACT.
Section 57-104 - DEPOSITING UNIT.
Section 57-105 - PUBLIC MONEYS.
Section 57-106 - SUPERVISING BOARD.
Section 57-109 - DEPOSITING UNIT IN TWO OR MORE COUNTIES — DESIGNATION OF AUDITOR.
Section 57-110 - DESIGNATED DEPOSITORY.
Section 57-113 - REPORT ON CAPITAL AND SURPLUS.
Section 57-127 - DEPOSIT OF PUBLIC FUNDS — DUTIES OF TREASURER AND SUPERVISING BOARD.
Section 57-127A - DEPOSIT FOR SAFEKEEPING — RESPONSIBILITY.
Section 57-128 - DESIGNATION OF DEPOSITORY.
Section 57-130 - DEPOSIT IN FINANCIAL INSTITUTIONS OUTSIDE OF DEPOSITING UNIT.
Section 57-131 - DEPOSITS SUBJECT TO PAYMENT ON DEMAND.
Section 57-132 - DEPOSITS BY TAX COLLECTOR AND PUBLIC ADMINISTRATOR.
Section 57-133 - DEMAND DEPOSITS — PAYMENT OF SERVICE CHARGES — INTEREST ON TIME DEPOSITS.
Section 57-133B - UNLAWFUL DISCLOSURE OF INFORMATION RELATING TO DESIGNATED DEPOSITORIES — PENALTY.
Section 57-134 - ACCOUNTING FOR MONEYS DEPOSITED.
Section 57-135 - TREASURER’S MONTHLY REPORT.
Section 57-137 - RESPONSIBILITY FOR LOSS THROUGH INSOLVENCY OF BANK.
Section 57-138 - LIABILITY OF COUNTY AUDITOR UNDER PUBLIC DEPOSITORY LAW.
Section 57-139 - OFFENSES BY TREASURER — PENALTY.
Section 57-140 - NEGLECT OF TREASURER — PENALTY.
Section 57-141 - BRIBERY OF TREASURER A FELONY — PENALTY.
Section 57-142 - EXPENSES — AUDIT AND PAYMENT.
Section 57-143 - INSPECTION OF TREASURER’S OFFICE.