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From time to time, the City Treasurer shall sell the securities in which City moneys have been invested pursuant to this Chapter, so that the proceeds may, as appropriate, be applied to the purchase for which the original purchase money may have been designated or placed in the City treasury.
[Ord. No. 461, Section 3, 5/9/07.]
Bonds issued by the City and purchased pursuant to this Chapter may be canceled either in satisfaction of sinking fund obligations or otherwise if proper and appropriate, provided, however, that said bonds may be held and canceled and while so held may be resold.
[Ord. No. 461, Section 3, 5/9/07.]
Pursuant to the delegation of authority in Section 3.01.010, the City Treasurer is authorized to deposit for safekeeping the securities in which City moneys have been invested pursuant to this Chapter, in any institution or depository authorized by the terms of any State law, including but not limited to Government Code Section 53608 as it now reads or may hereafter be amended. In accordance with said Section, the City Treasurer shall take from such institution or depository a receipt for the securities so deposited and shall not be responsible for such securities delivered to and receipted for by such institution or depository until they are withdrawn therefrom by the City Treasurer.
[Ord. No. 461, Section 3, 5/9/07.]
Any departmental trust fund established by the City Council pursuant to Government Code Section 36523 shall be administered by the City Treasurer in accordance with Government Code Sections 36523 and 36524 and any other applicable provisions of law.
[Ord. No. 461, Section 3, 5/9/07.]