The board shall from time to time designate one or more national or state banks, or trust companies authorized to do a banking business, as official depositories for money of the board, and thereupon shall require the treasurer to deposit all or a part of such money in such institutions. Such designation shall be in writing and shall set forth all the terms and conditions upon which the deposits are made, and shall be signed by the chair and treasurer, and made a part of the minutes of the board. Any bank or trust company so designated shall qualify as a depository by furnishing a corporate surety bond or collateral in the amounts required by section 118A.03. However, no bond or collateral shall be required to secure any deposit insofar as it is insured under federal law.
1971 c 478 s 15; 1996 c 399 art 2 s 12
Structure Minnesota Statutes
Chapters 451 - 459 — Local Public Utilities, Enterprises
Chapter 458D — Western Lake Superior Sanitary District
Section 458D.01 — Purpose And Policy.
Section 458D.02 — Definitions.
Section 458D.03 — Sanitary Board.
Section 458D.04 — Organization And Operation Of Board.
Section 458D.05 — Comprehensive Plan.
Section 458D.06 — Sewer Service Function.
Section 458D.07 — Sewage Collection And Disposal.
Section 458D.09 — Allocation Of Costs.
Section 458D.10 — Costs Of Solid Waste Disposal.
Section 458D.11 — Government Payments.
Section 458D.111 — Collection Of Solid Waste Management Service Charges.
Section 458D.12 — Public Hearing And Special Assessments.
Section 458D.14 — Bonds, Certificates And Other Obligations.
Section 458D.145 — Applicable Elected Representative.
Section 458D.16 — Depositories.
Section 458D.17 — Money, Accounts, And Investments.
Section 458D.18 — General Powers Of Board.
Section 458D.19 — Local Facilities.
Section 458D.20 — Service Contracts Outside Jurisdiction.
Section 458D.21 — Construction Contracts.
Section 458D.22 — Annexation Of Territory.