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Text: HF00463                           Text: HF00465
Text: HF00400 - HF00499                 Text: HF Index
Bills and Amendments: General Index     Bill History: General Index

House File 464

Partial Bill History

Bill Text

PAG LIN
  1  1    Section 1.  Section 331.555, subsection 6, Code 1995, is
  1  2 amended to read as follows:
  1  3    6.  The treasurer shall keep all funds invested to the
  1  4 extent practicable and may invest the funds jointly with one
  1  5 or more counties, judicial district departments of
  1  6 correctional services, cities, or city utilities, or rural
  1  7 water districts created under chapter 357A pursuant to a joint
  1  8 investment agreement.  All investments of funds shall be
  1  9 subject to sections 12B.10 and 12B.10A and other applicable
  1 10 law.
  1 11    Sec. 2.  Section 357A.11, Code 1995, is amended by adding
  1 12 the following new subsection:
  1 13    NEW SUBSECTION.  12.  Place all funds in investments to the
  1 14 extent practicable and may invest the funds jointly with one
  1 15 or more counties, judicial district departments of
  1 16 correctional services, cities, or city utilities pursuant to a
  1 17 joint investment agreement.  All investments of funds shall be
  1 18 subject to sections 12B.10 and 12B.10A and other applicable
  1 19 law.
  1 20    Sec. 3.  Section 384.21, Code 1995, is amended to read as
  1 21 follows:
  1 22    384.21  JOINT INVESTMENT OF FUNDS.
  1 23    A city or a city utility board shall keep all funds
  1 24 invested to the extent practicable and may invest the funds
  1 25 jointly with one or more cities, utility boards, judicial
  1 26 district departments of correctional services, or counties, or
  1 27 rural water districts created under chapter 357A pursuant to a
  1 28 joint investment agreement.  All investments of funds shall be
  1 29 subject to sections 12B.10 and 12B.10A and other applicable
  1 30 law.
  1 31    Sec. 4.  Section 905.6, subsection 4, Code 1995, is amended
  1 32 to read as follows:
  1 33    4.  Prepare all budgets and fiscal documents, and certify
  1 34 for payment all expenses and payrolls lawfully incurred by the
  1 35 district department.  The director may invest funds which are
  2  1 not needed for current expenses, jointly with one or more
  2  2 cities, city utilities, or counties, or rural water districts
  2  3 created under chapter 357A pursuant to a joint investment
  2  4 agreement.  All investment of funds shall be subject to
  2  5 sections 12B.10 and 12B.10A and other applicable law.  
  2  6                           EXPLANATION
  2  7    This bill authorizes rural water districts created under
  2  8 chapter 357A to invest funds jointly with cities, counties, or
  2  9 other political subdivisions.  The bill also provides that the
  2 10 public funds investment standards of chapter 12B apply to
  2 11 these joint investments.  
  2 12 LSB 2319HV 76
  2 13 mk/jw/5
     
Text: HF00463                           Text: HF00465
Text: HF00400 - HF00499                 Text: HF Index
Bills and Amendments: General Index     Bill History: General Index
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