(a) The board of directors or commissioners of any levee district organized under general or special laws, which is or may be hereafter authorized to select depositories for the funds of the district, shall select the depositories at the time, in the manner, and for the term as is required by existing statutes.
(b) However, in the event the depositories so selected cannot or do not provide the security required by law in an amount sufficient to provide protection for all the funds of the district, the board of directors or commissioners are authorized to select additional depositories without advertising for bids, which depositories may be located outside the district and within or without the State of Arkansas. The additional depositories shall be required to provide the security required by law for deposits of improvements districts.
Section: Previous 14-123-303 14-123-304 14-123-305 14-123-306 14-123-307 14-123-308 14-123-309 14-123-310 14-123-311 14-123-312 14-123-313 14-123-314 14-123-315 14-123-316 NextLast modified: November 15, 2016