185.30  Depository for retirement fund.--All funds and securities of the municipal police officers' retirement trust fund may be deposited by the board of trustees with the treasurer of the municipality acting in a ministerial capacity only, who shall be liable in the same manner and to the same extent as he or she is liable for the safekeeping of funds for the municipality. However, any funds and securities so deposited with the treasurer of the municipality shall be kept in a separate fund by the municipal treasurer or clearly identified as such funds and securities of the municipal police officers' retirement trust fund. In lieu thereof, the board of trustees shall deposit the funds and securities of the municipal police officers' retirement trust fund in a qualified public depository as defined in s. 280.02, which depository with regard to such funds and securities shall conform to and be bound by all of the provisions of chapter 280.