§ 3-1-3. City depository.  


Latest version.
  • All funds belonging to the City and derived from any source shall be deposited under the direction of the finance committee of the City in a safe bank which will pay the largest amount of interest on daily balances for the funds, so that the funds or any part thereof shall be subject to be drawn out at any time as provided by the laws of the City. The finance committee shall select such depository on the first day of each year.