Municipalities must first offer funds available for investment to all eligible banks, savings and loans, and federally charted savings banks which have home offices or branches in the investing community. If the financial institutions will not match or exceed the statutory investment rates as calculated by PMIB (given below), municipalities may invest in the Municipal Investment Pool (MIP current rates). For other investment options see K.S.A. 12-1675.
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Municipal Investment Pool rates are different than the minimum rate banks must offer to secure public funds:
Municipal Investment Pool Rates
Municipal Investment Pool Rates
These rates are published in the Kansas Register in accordance with K.S.A. 75-4210.
How are these investment rates calculated? See K.S.A.12-1675a(g)
Historical Rates