802.80 Depository of Funds
At the annual meeting of the Board, the Board shall designate, by resolution, the name and location of any new depository selected as the official District depository not on the previous year’s listing. The Board shall designate the maximum amount, which may be kept on deposit in each depository. The maximum amounts which may be kept on deposit in each depository shall be entered in the official minutes of the Board.
All depositories will be federally insured.
August 18, 2003
April 18, 2011
October 3, 2016