Local hospital district; time deposits authorized; requirements

The secretary-treasurers of the various local hospital districts of the state may, upon resolution of their respective boards of directors authorizing such action, make time deposits in banks, capital stock financial institutions, or qualifying mutual financial institutions selected as depositories of the local hospital district funds under sections 77-2369 to 77-2372 . The time deposits shall bear interest and shall be secured as set forth in section 77-2304 or 77-2378 , except that the amount insured or guaranteed by the Federal Deposit Insurance Corporation shall be exempt from the requirement of being secured as provided by section 77-2378 or by bonds similar to the bond required and set forth in section 77-2304 . 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.