(a) All eligible investments in certificated form acquired by the City Treasurer pursuant to Section 178.12 of this chapter shall be kept in a safe deposit box or vault belonging to an eligible depository, and such safe deposit box or vault shall be opened only upon a warrant or order of the Commissioner of Accounts or a person duly authorized as the Acting Commissioner of Accounts in the presence of the Director of Finance, or the Director of Law, or both of them, or persons duly authorized as Acting Director of Finance or Law. The warrant or order to open such safety deposit box or vault shall direct the deposit or removal of such certificates, clipping of coupons or other official business reason for opening the box or vault. A report of stating the items placed in or removed from the box or vault or other official business conducted with respect to the contents of the box or vault shall, on the same day of the opening of the box or vault, be signed by the officer witnessing such opening and the City Treasurer, and such report shall be retained by the Commissioner of Accounts.
(b) In lieu of the custody authorized by division (a) of this section, the City Treasurer may deposit such certificates with a qualified trustee as set forth in division (I) of RC 135.18 or division (F) of RC 135.181.
(c) Upon the expiration of the term of office of the City Treasurer or in the event of vacancy in the office of the City Treasurer by reason of death, resignation, removal from office or otherwise, the City Treasurer or the City Treasurer’s legal representative shall transfer and deliver to the successor all such certificates held by the City Treasurer. For the certificates so transferred and delivered, such City Treasurer shall be credited with and the City Treasurer’s successor shall be charged with the amount of money invested in such certificates.
(Ord. No. 2353-93. Passed 2-14-94, eff. 2-23-94)