Minnesota Legislature
Office of the Revisor of Statutes
2006 Minnesota Statutes
This is an historical version of this statute chapter. Also view the most recent published version.
427.09 FAILURE TO DESIGNATE DEPOSITORY.
If the council of any home rule charter city of the fourth class or any statutory city shall
refuse or fail to act, as provided in section 427.01, within 30 days after the beginning of the fiscal
year the treasurer shall select one or more depositories, not exceeding four in number, for the
safekeeping of city funds and deposit such funds therein, in the name of the city, to the extent
authorized by chapter 118A in each depository so selected without requiring security therefor.
History: (1049-2) 1931 c 216 s 2; 1933 c 62 s 2; 1957 c 367 s 6; 1959 c 289 s 3; 1973 c 123
art 5 s 7; 1976 c 44 s 35; 1Sp1981 c 4 art 1 s 175; 2001 c 7 s 90
If the council of any home rule charter city of the fourth class or any statutory city shall
refuse or fail to act, as provided in section 427.01, within 30 days after the beginning of the fiscal
year the treasurer shall select one or more depositories, not exceeding four in number, for the
safekeeping of city funds and deposit such funds therein, in the name of the city, to the extent
authorized by chapter 118A in each depository so selected without requiring security therefor.
History: (1049-2) 1931 c 216 s 2; 1933 c 62 s 2; 1957 c 367 s 6; 1959 c 289 s 3; 1973 c 123
art 5 s 7; 1976 c 44 s 35; 1Sp1981 c 4 art 1 s 175; 2001 c 7 s 90
Official Publication of the State of Minnesota
Revisor of Statutes