(a) The City Director of Finance shall have authority to execute bonds in conjunction with the President of Council. The Director shall thereupon take possession and custody of such bonds.
(b) The Director shall maintain possession and custody of all City bonds until the Director is in receipt of the price for which the bonds have been sold by direction of City Council, or until such bonds have been cancelled. Any evidence of debt of the City that has been paid shall be cancelled, but a permanent record of such debt and repayment shall be maintained by the Director.
(Ord. 2014-47. Passed 4-7-14.)
(Ord. 2014-47. Passed 4-7-14.)