The Collector-Treasurer shall pay over to the Board of Commissioners of Sinking Funds all money received by him from assessments laid or to be laid on account of betterments from public improvements the expenses of which were paid for by the proceeds of loans, and all sums received from the sale or lease of City property purchased out of the proceeds of loans, except where provision to the contrary is made by statute or ordinance, to be by them credited to the sinking funds established for such loans, or in case of serial loans to be held by them toward paying the installments as they fall due. The Collector-Treasurer shall also pay all drafts, checks and other orders directed to him by the City Auditor, in accordance with these ordinances, for the payment of bills and demands against the City; shall on presentation pay every execution against the City, when approved by the Corporation Counsel, even if the appropriation to which the execution is chargeable is not sufficient to meet it; shall pay on presentation when due all bonds issued by the City and the interest on the same; shall cancel all bonds and coupons and daily deliver to the City Auditor the bonds and executions paid during the day; shall at the close of business on the last day of each month deliver to the City Auditor the coupons paid during such month and statement of the total amount paid for interest during such month and shall use and apply as the City Council may direct all property, money and securities in his care and custody at the close of each financial year for the application of which no other provision has been made.
(Rev. Ord. 1961 c. 25 § 7; CBC 1975 Ord. T6 § 156)