2005 Idaho Code - 57-127 — DEPOSIT OF PUBLIC FUNDS -- DUTIES OF TREASURER AND SUPERVISING BOARD

                                  TITLE  57
                           PUBLIC FUNDS IN GENERAL
                                  CHAPTER 1
                            PUBLIC DEPOSITORY LAW
    57-127.  DEPOSIT OF PUBLIC FUNDS -- DUTIES OF TREASURER AND SUPERVISING
BOARD. Except where the public moneys of a depositing unit in the custody of
the treasurer at any one (1) time are less than one thousand dollars ($1000),
the treasurer shall deposit, and at all times keep on deposit, subject to the
provisions of this law, in designated depositories, all public moneys coming
into his hands, and it is hereby made the duty of said supervising board not
less than once every six (6) months to certify to the treasurer the capital
and surplus or reserves and unallocated or undivided earnings, as applicable,
of each public depository, a copy of which certificate shall immediately be
served on the treasurer by the supervising board or its clerk; provided, that
with the approval of the supervising board of the depositing unit, the
treasurer is authorized and empowered to invest surplus or idle funds of the
depositing unit in investments permitted by section 67-1210, Idaho Code, and
interest received on all such investments, unless otherwise required by law,
shall be paid into the general fund of the depositing unit: and provided
further, that as to all public moneys in the custody of the treasurer of a
depositing unit for which there is no legal depository available under this
chapter, it shall be the duty of the supervising board of the depositing unit
to designate and place for the safekeeping of such public moneys, and until
such designation it shall be the duty of the treasurer to deposit such excess
sums on special deposit in any public depository, and the expense of such
service shall be borne by the depositing unit.