Metropolitan utilities district funds; depositories; designation; conditions

Depositories shall be such banks, capital stock financial institutions, or qualifying mutual financial institutions as shall be from time to time designated by the governing body of a metropolitan utilities district by formal resolution duly recorded. Such designation may be withdrawn at any time by such governing body by formal resolution duly entered upon its records. No deposit shall be made except in a duly designated depository, and deposits shall be withdrawn by the district immediately upon the withdrawal of the designation of any bank, capital stock financial institution, or qualifying mutual financial institution as a depository. All deposits shall be subject to payment on demand upon the check or order of the district. Section 77-2366 shall apply to deposits in capital stock financial institutions. Section 77-2365.01 shall apply to deposits in qualifying mutual financial institutions.