The treasurer of any city, who has city funds deposited in accordance with sections 427.02 to 427.07, shall, when notified so to do by the sureties on the treasurer's official bond or by the council of the city, withdraw all funds from any designated depository and it shall be the duty of the city comptroller or other recording officer of such city to countersign all checks for such withdrawal. The city treasurer shall thereupon, upon such withdrawal, notify the council of the city thereof and thenceforth the city treasurer shall deposit no more funds in the depository until authorized so to do by the council of the city. Upon this withdrawal, it shall be the duty of the council of the city to proceed forthwith to redesignate, in accordance with the provisions of sections 427.02 to 427.07.
(1332) 1907 c 17 s 6; 1986 c 444
Structure Minnesota Statutes
Chapters 426 - 435 — Municipal Finance, Taxation, Special Assessments
Chapter 427 — Depositories, City And Statutory City Funds
Section 427.01 — Deposit Of Public Funds.
Section 427.02 — Depositories.
Section 427.03 — Duty Of Treasurer; Exemption From Liability.
Section 427.04 — Failure To Designate.
Section 427.05 — Duty Of Council; Interest.
Section 427.06 — Money, How Deposited; Checks, How Drawn.
Section 427.07 — Withdrawal Of Funds.
Section 427.09 — Failure To Designate Depository.
Section 427.10 — Treasurer, Liability.