Sec. 91. City depositories.
The funds of the city, including funds held by the treasurer as
treasurer of the sinking fund commission, shall be deposited to the
credit of the city or to the credit of the sinking fund commission,
as the case may be, by the treasurer in such banks as the council
may direct and such banks shall secure such deposits in such manner
as the council may determine. The sufficiency of securities
deposited by such banks to secure said deposits shall be subject
to the approval of a committee consisting of the finance committee,
director of finance and the treasurer. (Id., § 100; Ord. March
2, 1942.)
