Effective - 28 Aug 2004
95.280. Depositary for city funds, how selected. — 1. Subject to the provisions of section 110.030, 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.
2. Notwithstanding the provisions of subsection 1 of this section to the contrary, the city council of any third class city with a population of more than fifteen thousand and less than nineteen thousand that is located in any county of the fourth classification with a population of more than forty thousand and less than forty-eight thousand three hundred, or of any city of the third classification with more than ten thousand five hundred but less than ten thousand six hundred inhabitants may receive sealed proposals for the deposit of city funds from banking institutions doing business within the city at any of the regular meetings of such city. The city shall send notice of bids to each banking institution in the city by regular mail at the time the notice is published in the newspaper in subsection 1 of this section. The banking institution selected as the depositary shall be offered a depositary contract for a maximum of two years. Any such city shall follow the bid procedure established in subsection 1 of this section, except as otherwise provided in this subsection.
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(RSMo 1939 § 6939, A.L. 1965 p. 216, A.L. 2001 S.B. 441, A.L. 2004 H.B. 1398)
Prior revisions: 1929 § 6793; 1919 § 8280; 1909 § 9217
Structure Missouri Revised Statutes
Title VII - Cities, Towns and Villages
Chapter 95 - Financial Administration and Indebtedness
Section 95.115 - Cities and towns may incur indebtedness, how.
Section 95.120 - Additional indebtedness of cities by special vote.
Section 95.123 - Indebtedness to establish revolving improvement fund, purposes, procedure.
Section 95.125 - Indebtedness for street improvements.
Section 95.130 - Indebtedness for waterworks, electric or other light plants.
Section 95.150 - Form of ballot.
Section 95.155 - Bonds issued, when, terms.
Section 95.160 - Provisions of sections 95.115 to 95.155, scope of.
Section 95.165 - Treasurer or other officer to register bonds when requested.
Section 95.170 - Form of bonds.
Section 95.280 - Depositary for city funds, how selected.
Section 95.320 - Bonds to issue, when — rate of interest.
Section 95.325 - Not to increase indebtedness.
Section 95.330 - Sinking and interest funds to be provided for.
Section 95.335 - Bonds to be negotiable.
Section 95.340 - Bonds not to be registered with state auditor.
Section 95.345 - May issue bonds for certain purposes.
Section 95.350 - Bonded debt and interest, power to levy tax for — funding outstanding debts.
Section 95.355 - City depositary.
Section 95.360 - Collector to settle monthly with treasury.
Section 95.370 - Bonds may be issued to pay judgments, when — procedure.
Section 95.380 - Tax to be levied for payment of bonds and interest.
Section 95.385 - Election to be held.
Section 95.390 - Form of ballot.
Section 95.395 - Bonds to be registered.
Section 95.400 - Construction of law.
Section 95.405 - Bonds may be issued.
Section 95.410 - Board may levy tax to pay interest on bonds — may issue bonds.
Section 95.415 - May issue bonds for payment of judgment — how sold.
Section 95.420 - Amounts — time to run — rate of interest — where paid.
Section 95.425 - Net income from water and light plants, how applied.
Section 95.430 - Bonds, how sold — proceeds, how applied.
Section 95.435 - Sinking fund to be provided.
Section 95.440 - Question to be submitted to voters.
Section 95.445 - Form of ballot.
Section 95.450 - Bonds issued, when — procedure, limits.
Section 95.455 - Bonds to be registered.
Section 95.460 - Effect of sections 95.415 to 95.455.
Section 95.465 - Mayor and two houses of legislation defined (cities over 100,000).
Section 95.475 - Proceeds from sale of bonds used to pay judgment (cities over 100,000).
Section 95.480 - Sinking fund — annual tax (cities over 100,000).
Section 95.495 - Need not be registered with state auditor (cities over 100,000).
Section 95.500 - Certain laws not repealed — this law not to be impaired (cities over 100,000).
Section 95.505 - Certain municipal officers to pay fees to treasurer (cities over 200,000).
Section 95.515 - Questions to be submitted — amount of bonds to be voted (cities over 400,000).
Section 95.520 - Bonds issued, when (cities over 400,000).
Section 95.525 - United States granted authority to establish parks in state (cities over 400,000).
Section 95.535 - All fees to be deposited in treasury — duty of comptroller (St. Louis City).
Section 95.537 - Officers and employees, salaries paid biweekly (St. Louis City).
Section 95.547 - Employees who may be covered (St. Louis City).
Section 95.549 - Program, how financed — services covered (St. Louis City).
Section 95.551 - Employee defined (St. Louis City).
Section 95.553 - Independent board employees, how handled (St. Louis City).
Section 95.556 - Officers to administer — membership and benefits as compensation.