Sec. 2-92. 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 city council may direct and such banks shall secure such
deposits in such manner as the city council may determine. The
sufficiency of securities deposited by such banks to secure such
deposits shall be subject to the approval of a committee consisting
of the finance committee, the director of finance and the
treasurer. (Code 1959, § 2-92.)
