§ 2-4. Depositories of city funds; signing of checks.

(a)

Depositories for city funds shall be designated by resolution of the city council and the city clerk shall furnish a certified copy of such resolution to each depository so designated. Each depository shall be authorized to accept for deposit to the account of the city checks and other instruments payable to the order of the city and any two (2) of the officers named in subsection (b) below are authorized to enter into the depository's checking account agreement and any two (2) of such officers are authorized to sign checks, drafts and other orders on the account and the depository shall be authorized to honor all checks, drafts and other orders so signed, even though payable to or deposited to the account of the person so signing.

(b)

The officers referred to in subsection (a) above are the mayor, the city manager, the city clerk and the city treasurer. The city clerk shall furnish to each depository the names and specimen signatures of the persons from time to time holding these positions, together with the depository's usual form of signature card, and the depository shall be authorized to rely thereon until written notice to the contrary is received by it.

(c)

It shall be the duty of the city treasurer, on each business day of each week, to deposit in a designated city depository all the money belonging to the city which he has collected or received.

(Code 1966, §§ 2-1.1, 2-64)