9-1403.   Securities for deposits of public funds; exemption during peak deposits.(a) During the periods of peak deposits occurring at tax paying time and taxdistributing time and continuing for a period of not to exceed 60continuous days at any given time and not to exceed 120 days in anycalendar year the amount of security for the deposit of public moneys asrequired under K.S.A. 9-1402, and amendments thereto, may be reduced by notmore than 1/2 in an amount thereof.

      (b)   The provisions of this section shall apply only to the deposits of allmunicipal corporations and quasi-municipal corporations, but the custodianof the funds of each of such municipal corporations or quasi-municipalcorporations together with an officer of the depositorybank, savings and loan association or savings bank may enter into an agreement whichdesignates in writing the beginning of each such sixty-day period, and acopy thereof, fully executed, shall be kept on file in the office of thegoverning body of such municipal corporation or quasi-municipal corporationand in the files of such bank, savings andloan association or savings bank.

      History:   L. 1947, ch. 102, § 65; L. 1982, ch. 52, § 3; L. 1983,ch. 47, § 4; L. 1986, ch. 76, § 4; L. 1989, ch. 48, § 43;L. 1997, ch. 180, § 5; May 29.