Article 14.--BANKING CODE; DEPOSIT OF PUBLIC MONEYS
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 tax
distributing time and continuing for a period of not to exceed 60
continuous days at any given time and not to exceed 120 days in any
calendar year the amount of security for the deposit of public moneys as
required under K.S.A. 9-1402, and amendments thereto, may be reduced by not
more than 1/2 in an amount thereof.
(b) The provisions of this section shall apply only to the deposits of all
municipal corporations and quasi-municipal corporations, but the custodian
of the funds of each of such municipal corporations or quasi-municipal
corporations together with an officer of the depository
bank, savings and loan association or savings bank may enter into an agreement which
designates in writing the beginning of each such sixty-day period, and a
copy thereof, fully executed, shall be kept on file in the office of the
governing body of such municipal corporation or quasi-municipal corporation
and in the files of such bank, savings and
loan 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.
Article 14.--BANKING CODE; DEPOSIT OF PUBLIC MONEYS
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 tax
distributing time and continuing for a period of not to exceed 60
continuous days at any given time and not to exceed 120 days in any
calendar year the amount of security for the deposit of public moneys as
required under K.S.A. 9-1402, and amendments thereto, may be reduced by not
more than 1/2 in an amount thereof.
(b) The provisions of this section shall apply only to the deposits of all
municipal corporations and quasi-municipal corporations, but the custodian
of the funds of each of such municipal corporations or quasi-municipal
corporations together with an officer of the depository
bank, savings and loan association or savings bank may enter into an agreement which
designates in writing the beginning of each such sixty-day period, and a
copy thereof, fully executed, shall be kept on file in the office of the
governing body of such municipal corporation or quasi-municipal corporation
and in the files of such bank, savings and
loan 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.
Article 14.--BANKING CODE; DEPOSIT OF PUBLIC MONEYS
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 tax
distributing time and continuing for a period of not to exceed 60
continuous days at any given time and not to exceed 120 days in any
calendar year the amount of security for the deposit of public moneys as
required under K.S.A. 9-1402, and amendments thereto, may be reduced by not
more than 1/2 in an amount thereof.
(b) The provisions of this section shall apply only to the deposits of all
municipal corporations and quasi-municipal corporations, but the custodian
of the funds of each of such municipal corporations or quasi-municipal
corporations together with an officer of the depository
bank, savings and loan association or savings bank may enter into an agreement which
designates in writing the beginning of each such sixty-day period, and a
copy thereof, fully executed, shall be kept on file in the office of the
governing body of such municipal corporation or quasi-municipal corporation
and in the files of such bank, savings and
loan 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.