76.130 Deposit and paying out of moneys of district.
Download pdf
Loading PDF...
<![CDATA[
76.130 Deposit and paying out of moneys of district.
All moneys of the district, from whatever source derived, shall be paid to the secretary-<br>treasurer. Such moneys shall be deposited in the name of the district by the secretary-<br>treasurer, in one or more banks or trust companies, situated in the county in which said <br>city is located, having a capital and surplus of not less than $500,000. The district may <br>require that any or all such deposits be continuously secured by the pledge of direct <br>obligations of the United States of America, having such value as may be satisfactory to <br>the district. Such securities shall either be deposited with the secretary-treasurer or be <br>held by a trustee or agent satisfactory to the district. In lieu of any such pledge of such <br>securities, such funds may be secured by corporate surety bond or bonds, which shall be <br>in form, sufficiency, and substance satisfactory to the district. All banks and trust <br>companies are authorized to give such security for such deposits. The moneys in such <br>accounts shall be paid out by the secretary-treasurer on warrants signed by the secretary-<br>treasurer and countersigned by the chairman or vice chairman of the board, or signed and <br>countersigned by such other person or persons as the board may from time to time <br>designate by resolution.
History: Created 1952 Ky. Acts ch. 70, sec. 3.
]]>