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<br />Minnesota Statutes 2001, 427.09 Page 1 of 1 <br /> <br />Jvl:imlesot<tBtatutes 2001,]';lbJe Q[ChMlJs;~ <br /> <br />Iabl~_ofcon~11tUorChiljJ!s;rA27 <br /> <br />427.09 Failure to designate depository. <br /> <br />If the council of any home rule charter city of the fourth <br />class or any statutory city shall refuse or fail to act[ as <br />provided in section .i\.2-7__.:.P).' within 30 days after the beginning <br />of the fiscal year the treasurer shall select one or more <br />depositories, not exceeding four in number, for the safekeeping <br />of city funds and deposit such funds therein, in the name of the <br />city, to the extent authorized by chapter 118A in each <br />depository so selected without requiring security therefor. <br /> <br />HIST: (1049-2) 1931 c 216 s 2; 1933 c 62 s 2; 1957 c 367 s 6; <br />1959 c 289 s 3; 1973 c 123 art 5 s 7; 1976 c 44 s 35; lSp1981 c <br />4 art 1 s 175; 2001 c 7 s 90 <br /> <br />Copyright 2001 by the Office of Revisor of Statutes, State of Minnesota. <br /> <br />. <br /> <br />http://www.revisor.leg.state.mn.us/stats/427/09.html <br /> <br />9/13/2002 <br />