77-2364. Public funds; depositories; authority to give bond or security.
258 words·~1 min read·
/ne/chapter-77/77-2364A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
All depositories of public money or other funds belonging to the United States, the State of Nebraska, or the political subdivisions in this state shall have full authority to give bond for the safekeeping and payment of such deposits and the accretions thereof. In lieu of such bond, such depositories shall have full authority to give security as provided in the Public Funds Deposit Security Act. The State of Nebraska and any political subdivision in this state are hereby given the right and authority to accept such bonds or, in lieu thereof, such giving of security as provided in the act.
Nothing in this section shall be construed to in any manner affect the liability of any surety or signers of any official bond hereafter given or made in this state.
Section authorizes bank to pledge assets for security of deposits of city of second class by contract, and such contract is binding on both parties in absence of statutory prohibition. Luikart v. City of Aurora, 125 Neb. 263, 249 N.W. 590 (1933).
Irrigation district is a public corporation but is not a municipality within meaning of this section, and bank is without authority to pledge assets to secure deposit of irrigation district funds unless expressly authorized to do so. Bliss v. Pathfinder Irrigation District, 122 Neb. 203, 240 N.W. 291 (1932).
State bank may contract to indemnify sureties on depository bond given to secure public deposits, and may pledge sufficient assets to protect such sureties from loss. Bliss v. Mason, 121 Neb. 484, 237 N.W. 581 (1931).