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CITY OF JACKSON v. HERITAGE SAV. & LOAN

Nos. 44337, 44287.

639 S.W.2d 142 (1982)

CITY OF JACKSON, Missouri, Plaintiff-Respondent, v. HERITAGE SAVINGS AND LOAN ASSOCIATION and First Federal Savings and Loan Association, Defendants-Respondents, and Cape County Bank and Jackson Exchange Bank and Trust Company, Defendants-Appellants.

Missouri Court of Appeals, Eastern District, Division Four.

Motion for Rehearing and/or Transfer Denied September 17, 1982.

Application to Transfer Denied October 18, 1982.

Attorney(s) appearing for the Case

David G. Beeson, Buerkle, Lowes, Beeson & Ludwig, Jackson, J. Michael Payne, Limbaugh, Limbaugh, Russell & Syler, Cape Girardeau, for defendants-appellants.

Kenneth L. Waldron, Waldron & Turnbow, Jackson, for plaintiff-respondent.

Richard G. Steele, Cape Girardeau, for First Fed. Sav. & Loan Ass'n.

SMITH, Presiding Judge.

The City of Jackson filed a petition for declaratory judgment to seek resolution of certain questions involving the deposit of city monies. Joined as defendants were two banks (Jackson Exchange and Cape County) and two savings and loan associations (Heritage and First Federal). The City specifically asked the trial court (1) whether it could deposit funds in more than one institution at the same time, (2) whether it could deposit funds in savings...

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