Section 11-4-41

Selection.

The county commission shall on or before the first Monday in December of each year select as the county depository, for the placing therein of county funds for the period of the following calendar year, a qualified public depository under Chapter 14A of Title 41 and, where permitted by law, shall select such qualified public depository or qualified public depositories as offer the highest rate of interest to the county on daily balances of bank deposits.

(Acts 1915, No. 378, p. 348; Code 1923, §316; Code 1940, T. 12, §44; Acts 1956, 2nd Ex. Sess., No. 108, p. 436; Act 2000-748, p. 1669, §2.)