DEPOSITORIES

Omaha Municipal Code ch. 10, art. III

in effect

Omaha Municipal Code § 10-81 Deposit of funds.

Sec. 10-81. - Deposit of funds. All funds of the city shall, as the same accrue, be placed on deposit by the city treasurer in such banks within the city as shall agree to pay the highest rate of interest for the use of such funds so deposited. (Code 1980, § 10-81)

Omaha Municipal Code § 10-82 Advertisement for bids.

Sec. 10-82. - Advertisement for bids. The city council shall advertise for bids from banks for rates for the deposit of city funds as is contemplated by the provisions of this article. (Code 1980, § 10-82)

Omaha Municipal Code § 10-83 Payment of interest.

Sec. 10-83. - Payment of interest. Banks selected as depositories for city funds shall pay to the city treasurer interest on the daily balances in such banks for the current month at the rate bid. (Code 1980, § 10-83)

Omaha Municipal Code § 10-84 Deposits limited.

Sec. 10-84. - Deposits limited. No deposit of city funds shall at any time be made in excess of 50 percent of the bank's paid-up capital stock and its surplus funds. (Code 1980, § 10-84)

Omaha Municipal Code § 10-85 Security for deposits.

Sec. 10-85. - Security for deposits. The bank or banks selected as depositories for city funds shall give bond as required by law to the city, approved by the council, for the safekeeping of said deposit and interest thereon in double the amount of money at any one time in their possession; provided, in lieu of a bond as above provided, any bank designated as a public depository may, with the approval of the city council, deposit with the city treasurer United States government bonds, bonds of the state, county bonds, municipal bonds, or school district bonds of any county, city, village or school district in the state issued under the direction of and with the approval of the state auditor of public accounts, or warrants of any county or city, village or school district in this county, as security for the safe keeping of said deposit and interest. (Code 1980, § 10-85)

Omaha Municipal Code § 10-86 Monthly statements.

Sec. 10-86. - Monthly statements. It shall be the duty of the city depositories to transmit to the city comptroller, at the close of each month, an itemized statement of the account with the city treasurer for the previous month. (Code 1980, § 10-86)

Omaha Municipal Code § 10-87 Verification of signatures.

Sec. 10-87. - Verification of signatures. All bank or depositories having city funds on deposit are hereby prohibited from paying any check not properly signed and countersigned as required by this chapter. (Code 1980, § 10-87)

Source: City of Omaha, Municipal Code and City Charter (Municode Library, library.municode.com)URL: https://library.municode.com/ne/omaha/codes/code_of_ordinances?nodeId=PTIIMUCO_CH10FI_ARTIIIDEFetched: 10/28/2026