FIRST REGULAR SESSION

HOUSE BILL NO. 730

91ST GENERAL ASSEMBLY

INTRODUCED BY REPRESENTATIVE WILLIAMS.

Read 1st time February 8, 2001, and 1000 copies ordered printed.

TED WEDEL, Chief Clerk

1788L.01I

AN ACT

To repeal section 95.280, RSMo 2000, relating to municipal bids for banking services, and to enact in lieu thereof one new section relating to the same subject, with penalty provisions.



Be it enacted by the General Assembly of the state of Missouri, as follows:

Section A. Section 95.280, RSMo 2000, is repealed and one new section enacted in lieu thereof, to be known as section 95.280, to read as follows:

95.280. 1. Subject to the provisions of section 110.030, RSMo, the city council, at its regular meetings in July of each year, may receive sealed proposals for the deposit of the city funds from banking institutions doing business within the city that desire to be selected as the depositary of the funds of the city. Notice that bids will be received shall be published by the city clerk not less than one nor more than four weeks before the meeting, in some newspaper published in the city. Any banking institution doing business in the city, desiring to bid, shall deliver to the city clerk, on or before the day of the meeting, a sealed proposal stating the rate percent upon daily balances that the banking institution offers to pay to the city for the privilege of being the depositary of the funds of the city for the year next ensuing the date of the meeting; or, in the event that the selection is made for a less term than one year, as herein provided, then for the time between the date of the bid and the next regular time for the selection of a depositary. It is a misdemeanor for the city clerk or other person to disclose directly or indirectly the amount of any bid to any person before the selection of the depositary.

2. Notwithstanding the provisions of subsection 1 of this section to the contrary, the city council of any third class city with a population of more than fifteen thousand and less than nineteen thousand that is located in any county of the fourth classification with a population of more than forty thousand and less than forty-eight thousand may receive sealed proposals for the deposit of city funds from banking institutions doing business within the city at any of the regular meetings of such city. Any such city shall follow the bid procedure established in subsection 1 of this section, except as otherwise provided in this section.


Missouri House of Representatives