Sec. 85. Same—city funds—certificates of deposit.
When moneys on hand belonging to the city in the opinion of
the Treasurer justify his doing so, he may take out interest
bearing certificates of deposit in any of the banks of the city
approved by the Council, payable to the order of the city, and
whenever the use of the money, or any part thereof, for which
the certificates have been taken out, is required by the city, the
Treasurer is authorized and empowered to endorse said certificates,
or any one or more thereof, and to place the proceeds
thereof to the credit of the city in the same banks which issued
the certificate of deposit.
