Nebraska Statutes 16-713. City funds; certificates of deposit; time deposits; security required
The city treasurer of a city of the first class may, upon resolution of the mayor and city council authorizing the action, purchase certificates of deposit from and make time deposits in banks, capital stock financial institutions, or qualifying mutual financial institutions selected as depositories of city funds under the provisions of sections 16-712, 16-714, and 16-715. The certificates of deposit purchased and time deposits made shall bear interest and shall be secured as set forth in sections 16-714 and 16-715, except that the penal sum of such bond or the sum of such security shall be reduced in the amount of the time deposit or certificate of deposit insured or guaranteed by the Federal Deposit Insurance Corporation. Section 77-2366 shall apply to deposits in capital stock financial institutions. Section 77-2365.01 shall apply to deposits in qualifying mutual financial institutions.
Source
- Laws 1901, c. 18, § 85, p. 293;
- R.S.1913, § 4981;
- C.S.1922, § 4150;
- C.S.1929, § 16-712;
- R.S.1943, § 16-713;
- Laws 1959, c. 48, § 2, p. 235;
- Laws 1969, c. 84, § 4, p. 425;
- Laws 1989, LB 33, § 19;
- Laws 1992, LB 757, § 17;
- Laws 1996, LB 1274, § 19;
- Laws 2001, LB 362, § 20;
- Laws 2009, LB259, § 7;
- Laws 2016, LB704, § 181;
- Laws 2019, LB194, § 80.
Terms Used In Nebraska Statutes 16-713
- Action: shall include any proceeding in any court of this state. See Nebraska Statutes 49-801
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.