§ 87. City depositories.

Latest version.

All monies received by any person, department or agency of the City for or in connection with the business of the City and all funds of the City shall be deposited promptly in the City Depository, which shall be designated by the Council in accordance with such regulations and subject to such requirements as to security for deposits and interest thereon as may be established by ordinance. All interest on monies belonging to the City shall accrue to the benefit of the City.

(Ord. No. 85965, § 1 (Prop. 1), 5-5-97)

                    
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