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702.07 Depository of Funds

702.07            

DEPOSITORY OF FUNDS

At the annual meeting in July, the Board of Directors shall designate by resolution the name and location of the bank or banks selected as the official school district depository or depositories.  The Board shall also designate the maximum amount that may be kept on deposit in each bank.

This resolution shall be entered into the official minutes of the annual meeting.

 

LEGAL REF:            Iowa Code Sections 279.33, 453.1, 453.3, 454.6

Approved:             4/9/90         Reviewed:       7/08/13           Revised: ___________

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