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not be responsible for such securities delivered to and receipted for by such institution or depository until they are withdrawn therefrom by the City Treasurer.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.]