§ 2-2. City depository

(a) The City Council hereby adopts Local Government Code chapter 105, and amendments, and all provisions of such law shall be in full force and effect in the City and the City depository shall be appointed thereunder, give security under one (1) of the modes provided and perform the duties specified therein and such other duties as may be agreed on.

(b) The director of finance is hereby designated as the person to whom securities pledged to the City shall be delivered and in whose possession such securities shall remain under terms of the pledge, in the event a pledge of securities is made by the City depository in lieu of execution of a personal or surety bond.

(Code 1970, § 2-2)

refcharter

Duty of director of finance to deposit funds in the designated depositories, § 69(7).