It shall be the duty of the comptroller to obtain with each bid for interest upon city and school funds copies of the last two sworn statements of resources and liabilities of the bidding bank or savings and loan association as reported to the state or federal authority charged with the supervision of such banks or savings and loan associations and to present said statements to the city council with such bid. When requested to do so by the city council, the comptroller shall obtain from time to time from the banks and savings and loan associations to which awards are made copies of all reports of conditions made in response to the regular calls by the state and federal authorities. Together with the receipt of bids and sworn statement of resources and liabilities as aforesaid, the comptroller shall require of savings and loan associations submitting bids such reports, data and information as to the financial stability of the bidder as will assist in determining its compliance with standards promulgated by resolution of the city council for savings and loan depositories.
(Prior code § 7-33)