(A) Depositories designated. All banks and financial institutions as are designated by the town’s Board of Trustees shall be designated as depositories for the funds of the town.
(B) Clerk-Treasurer’s duties. The town’s Clerk-Treasurer shall deposit daily all public funds received by him or her in these banks. Funds may be transferred from one depository to another upon direction of the Clerk-Treasurer.
(C) Securing of deposits. The deposits of the town shall be secured as provided by state law.
(Prior Code, § 2-1-2)