A.   Depositories Designated: All banks and financial institutions as are designated by the city council shall be designated as depositories for the funds of the city. (1992 Code § 7-103)
   B.   Treasurer Duties: The city treasurer shall deposit daily all public funds received by him in such banks. Funds may be transferred from one depository to another upon direction of the city treasurer. (1992 Code § 7-103; amd. 2006 Code)
   C.   Securing Of Deposits: The deposits of the city shall be secured as provided by state law. (1992 Code § 7-104; amd. 2006 Code)