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<br />Minnesota Statutes 2001, 427.05 <br /> <br />Min!l~sQJ<LStatutes 2QQ13al;> le-Df Ch1lj:ltem <br /> <br />Lilbl~9j' cQlltsmts_fQLChaWer 4;;t? <br /> <br />427.05 Duty of council; interest. <br /> <br />The council of any city authorized under sections ~_,27":.g_?_ to <br />_~27__-:,_Q_Z to designate depositories shall exercise all possible <br />care to secure safe depositories for the funds of the city and <br />to obtain the highest rate of interest possible consistent with <br />safety for such moneys. All interest received in any way for <br />the use or keeping of moneys or on account of the same shall be <br />the property of the city and credited to the current expense <br />fund of the city. <br /> <br />HIST: (1330) 1907 c 17 s 4 <br /> <br />Copyright 2001 by the Office of Revisor of Statutes, State of Minnesota. <br /> <br />http://www.revisor.leg.state.run.us/stats/ 427/05 .html <br /> <br />Page 1 of I <br /> <br />. <br /> <br />9/13/2002 <br />