§ 2-434. Security for city deposits.

Latest version.

Each bank or savings association operating within the state receiving funds from the city for deposit in demand or time accounts must be designated by the state treasurer as a qualified public depository in accordance with provisions of the Florida Security for Public Deposits Act, F.S. Ch. 280. All other funds of the city invested in government securities, government agency securities, corporate stocks, etc., will be evidenced by an appropriate receipt, from the agency holding such investment, to be held in the possession of the director of finance.

(Code 1960, § 2-21)

State law reference

Investments by municipalities, F.S. § 166.261.

                    
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