Chapter 118A — Depositories; Investing: Sales, Proceeds, Immunity
Minnesota Statutes Chapter 118A — Depositories; Investing: Sales, Proceeds, Immunity
118A.01
Definitions
This section defines key terms for the law governing how local governments invest their public funds. 'Government …
118A.02
Depositories; Investing: Sales, Proceeds, Immunity
Each local government must designate one or more financial institutions as official depositories for its funds. The …
118A.03
When and What Collateral Required
When a local government's bank deposits exceed the amount covered by federal deposit insurance (currently $250,000), the …
118A.04
Investments
Local governments may invest idle public funds in a variety of approved instruments: U.S. Treasury and agency …
118A.05
Contracts and Agreements
Local governments may enter into repurchase agreements and reverse repurchase agreements using the same types of …
118A.06
Safekeeping; Acknowledgements
Local government investments may be held in safekeeping with a Federal Reserve bank, an authorized bank trust …
118A.07
Additional Investment Authority
Cities with more than 200,000 residents, their counties, and the Metropolitan Council may exercise expanded investment …
118A.08
No Superseding Effect
The general investment rules in sections 118A.01 through 118A.06 do not override other specific state laws that govern …
118A.09
Additional Long-term Equity Investment Authority
Counties and cities with a population over 100,000, or those with an AA or higher bond rating, may invest limited …
118A.10
Self-insurance Pools; Additional Investment Authority
Governmental self-insurance pools listed in section 471.982 may invest in the broader range of securities authorized for …