The city shall have all the rights, duties and powers with reference to the maintenance and operation of the guarantee fund as permitted or enjoined by law and the officials of the city are required and enjoined to do any and all things necessary for the establishment, maintenance, conduct and operation of the guarantee fund for the purposes specified in this chapter and as required by law; and the treasurer of the city is authorized, directed and required to establish and maintain in his office as treasurer of the city the foregoing local improvement guarantee fund, and to pay therein, and to pay thereout, and to maintain and to conduct the guarantee fund, strictly in accordance with the provisions of this chapter and as required by law; and the city treasurer is further authorized, directed and required to maintain and keep in his office true and accurate accounts and records of all funds in, and all funds paid into or out of the guarantee fund, together with true and correct statements and records of the sources and origin of all monies in the guarantee fund, and true and exact accounts and records of all bonds, warrants or interest, redeemed, paid or purchased or purchased tax certificates or lands purchased or leased or sold in the conduct of the guarantee fund, and of the specific local improvement district funds paid into the guarantee fund and the bonds and warrants, and interest thereon, for the security, payment or solution of which, in whole or in part, the monies of the guarantee fund may be maintained and used. (Ord. 208 § 10, 1962)