(a) The Treasurer is hereby authorized to deduct from the salary or wages due those officers and employees of the City who have filed with the Treasurer a written request authorizing such deduction, the amount specified in such authorization, to be deducted at the times indicated in such authorization. The amount is to be credited and applied upon the purchase of United States Savings Bonds Series E, for the benefit of and in the name of the officer or employee authorizing the deduction.
(b) The Director of Finance is hereby authorized and directed to enter into an agreement with the Federal Reserve Bank of Cleveland in order to qualify the City as a designated agent for the sale and issuance of United States Savings Bonds Series E, and to obtain a stock of such bonds sufficient to meet the City requirements for sale of such bonds to officers and employees of the City.
(Ord. No. 1645-42. Passed 11-30-42)