All trucks, fire equipment and fire apparatus purchased by the city shall be the property of the city and the same shall be under the control of the fire department. In the event of dissolution of such fire department, the title to all property of the department shall upon dissolution become the property of the city. The fire department shall at all times keep a complete inventory of all fire equipment and fire apparatus, listing all of the property owned by the city separately from that owned by the volunteer fire department. (Prior code § 10-403)