§ 12. CITY DEPOSITORY

Latest version.

The City will seek applications for a depository services contract as authorized and in accordance with state law. The City may approve, execute, and deliver any depository services contract whose term does not exceed the maximum term allowed by state law. Accounts necessary to conduct city business shall be established at the selected depository. All accounts shall be established with the requirement that withdrawal transactions shall be conducted by at least two (2) of the following city officials:
(1)

Mayor.

(2)

Mayor Pro-tem.

(3)

City Secretary/Treasurer.

Transfers from account to account may be transacted by any one (1) of the three (3) officials listed above. Special funds, such as the cash bond escrow account and the DARE account, may be established and designed to permit other authorized city representatives to transact business on behalf of the City under the direction of the City Manager.

(Ordinance No. 15-97 of July 10, 1997; Ordinance No. 06-2003 of March 27, 2003)

                    
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