§ 2-4-3. DEPOSIT OF PLEDGED SECURITIES.

Latest version.

(A)

A depository bank shall deposit or hold securities pledged to secure the City's funds in the manner directed by the city manager and director of the Financial and Administrative Services Department.

(B)

The city manager and the director of the Financial and Administrative Services Department have discretion to determine the value of securities pledged under this chapter and their determination is final and binding on a depository bank.

Source: 1992 Code Section 5-8-3 and 5-8-5; Ord. 031204-9; Ord. 031211-11.

                    
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