State Codes and Statutes
Statutes > Missouri > T08 > C110 > 110_150Public opening of bids--computation and payment of interest--rejectedbids.
110.150. 1. The county commission, at noon on or before the firstMonday of July for the year in which a bid is requested and every second orfourth year thereafter, shall publicly open the bids, and cause each bid tobe entered upon the records of the commission, and shall select as thedepositaries of all the public funds of every kind and description goinginto the hands of the county treasurer, and also all the public funds ofevery kind and description going into the hands of the ex officio collectorin counties under township organization, the deposit of which is nototherwise provided for by law, the banking corporations or associationswhose bids respectively made for one or more of the parts of the fundsshall in the aggregate constitute the largest offer for the payment ofinterest per annum for the funds; but the commission may reject any and allbids.
2. The interest upon each fund shall be computed upon the dailybalances with the depositary, and shall be payable to the county treasurermonthly, who shall place the interest to the credit of each individual fundheld by the county treasurer; provided, that the interest on any fundscollected by the collector of any county of the first classification nothaving a charter form of government on behalf of any political subdivisionor special district shall be credited to such political subdivision orspecial district.
3. The county clerk shall, in opening the bids, return the certifiedchecks deposited with him to the banks whose bids are rejected, and onapproval of the security of the successful bidders return the certifiedchecks to the banks whose bids are accepted.
(RSMo 1939 § 13849, A.L. 1959 S.B. 77, A.L. 1971 H.B. 45, A.L. 1984 S.B. 423, A.L. 1985 H.B. 568, A.L. 1996 H.B. 1469 merged with S.B. 914, A.L. 2005 S.B. 210, A.L. 2007 S.B. 22 merged with S.B. 497)Prior revisions: 1929 § 12186; 1919 § 9584; 1909 § 3805
