3.12.010 Authority.
This section is included in your selections.
(A) Temporarily idle moneys of the city not currently needed may, in accordance with the procedure prescribed in this chapter, be invested in:
(1) Direct obligations of United States government which mature within one year from date of purchase and which are guaranteed as to principal by the United States government; or
(2) Temporary notes of the city issued pursuant to K.S.A. 10-123; or
(3) Bank time certificates of deposit which are protected by the Federal Deposit Insurance Corporation.
(B) The provisions of this chapter shall not apply to any funds of the city, the investment of which is expressly authorized or limited or prohibited by the Kansas Statutes Annotated. (Ord. 396-C § 1, 1970; Prior Code § 1-502.)