212.480 Depository for funds. The board shall annually select a bank, or banks, or banking institutions for the current <br>deposit of the board's funds for the current operating expenses and which bank, or banks <br>or banking institutions shall give and maintain a bond, or bonds, or other form of security <br>to be approved by the mayor and the county judge/executive, said bond, or bonds or other <br>forms of security to be conditioned upon the safekeeping and prompt payment of said <br>funds placed in said depository when demanded by a duly authorized officer of the board. <br>The amount of said bond, or bonds or other form of security shall be, in the discretion of <br>the board, the mayor and the county judge/executive, in any amount not less than one <br>hundred thousand dollars ($100,000), or said depository, in lieu of said bond and with the <br>approval of the board, the mayor and county judge/executive, may place in escrow or <br>under the joint control of an officer of said depository and the chairman of the board, <br>United States bonds or other United States securities of an amount not less than one <br>hundred thousand dollars ($100,000). History: Created 1942 Ky. Acts ch. 41, sec. 11.
212.480 Depository for funds. The board shall annually select a bank, or banks, or banking institutions for the current <br>deposit of the board's funds for the current operating expenses and which bank, or banks <br>or banking institutions shall give and maintain a bond, or bonds, or other form of security <br>to be approved by the mayor and the county judge/executive, said bond, or bonds or other <br>forms of security to be conditioned upon the safekeeping and prompt payment of said <br>funds placed in said depository when demanded by a duly authorized officer of the board. <br>The amount of said bond, or bonds or other form of security shall be, in the discretion of <br>the board, the mayor and the county judge/executive, in any amount not less than one <br>hundred thousand dollars ($100,000), or said depository, in lieu of said bond and with the <br>approval of the board, the mayor and county judge/executive, may place in escrow or <br>under the joint control of an officer of said depository and the chairman of the board, <br>United States bonds or other United States securities of an amount not less than one <br>hundred thousand dollars ($100,000). History: Created 1942 Ky. Acts ch. 41, sec. 11.
212.480 Depository for funds. The board shall annually select a bank, or banks, or banking institutions for the current <br>deposit of the board's funds for the current operating expenses and which bank, or banks <br>or banking institutions shall give and maintain a bond, or bonds, or other form of security <br>to be approved by the mayor and the county judge/executive, said bond, or bonds or other <br>forms of security to be conditioned upon the safekeeping and prompt payment of said <br>funds placed in said depository when demanded by a duly authorized officer of the board. <br>The amount of said bond, or bonds or other form of security shall be, in the discretion of <br>the board, the mayor and the county judge/executive, in any amount not less than one <br>hundred thousand dollars ($100,000), or said depository, in lieu of said bond and with the <br>approval of the board, the mayor and county judge/executive, may place in escrow or <br>under the joint control of an officer of said depository and the chairman of the board, <br>United States bonds or other United States securities of an amount not less than one <br>hundred thousand dollars ($100,000). History: Created 1942 Ky. Acts ch. 41, sec. 11.
