Provides an exception to the existing law requiring that all public funds of all political subdivisions be deposited in public depositories within the territorial limits of the political subdivision to authorize a county to invest the public funds of the county in a depository that is located in any other county in Indiana. Amends existing law authorizing a county or political subdivision to adopt an ordinance or resolution authorizing the investment of public funds in certificates of deposit of depositories that: (1) have not been designated as a depository by the local board of finance; but (2) have been designated as a depository for state funds by the state board of finance; so as to eliminate, for purposes of investments made under such an ordinance or resolution, the applicability of the current statutory requirement that all public funds of all political subdivisions must be deposited in designated depositories located in the territorial limits of the political subdivision.

Statutes affected:
Introduced Senate Bill (S): 5-13-8-9, 5-13-9-5