FILE:  DG

 

DEPOSITORY OF FUNDS

 

 

All revenue received by the Lincoln Parish School District shall be deposited in the official depository banks.

 

The selection of the official depository or treasury for the Lincoln Parish School District funds shall be in the following manner:

 

  1. All banks located within the school district shall be notified in writing inviting them to submit their proposal to serve as the official depositories or treasuries of the school district for the next biennium.
     

  2. The depositories or treasuries selected by the School Board shall protect the school district funds as provided by state law and shall sub­mit necessary data for approval by the School Board.
     

  3. All school district funds shall be pro-rated and then deposited in the various banks according to each bank's capital structure.
     

  4. Bids will be sought for the official depository of funds each biennium.

 

Adopted: July 1976

 

 

Ref:     La. Rev. Stat. Ann. §39:1220

 

Lincoln Parish School Board