It shall be the duty of the trustee bank from time to time to invest all moneys entrusted to it and actually paid to said trustee bank in full faith and credit bonds of the United States, the State of Illinois, the County of Cook, the sanitary district of Chicago, the City of Chicago, or the board of education of the City of Chicago or in tax anticipation warrants of the county of Cook, the sanitary district of Chicago, the City of Chicago or board of education of Chicago, savings and time deposit certificates of a state bank or a national bank doing business in Illinois, to the extent that such deposits are insured by the United States Government or any agency thereof, with the usual powers of trustees of such funds, and to report annually in writing to the city comptroller of the City of Chicago as to each separate fund or allowance of money, said report to show the name of the beneficiary, the amount received, interest earned, disbursements made, balance on hand, and securities representing the balance.
(Prior code § 22-10)