Before receiving any monies, the Secretary of the Port Authority shall furnish bond in an amount as shall be determined by the Port Authority, with surety satisfactory to it, and all funds coming into the hands of the Secretary shall be deposited by him or her to the account of the Port Authority in one or more depositories as shall be qualified to receive deposits of funds in the same manner as is done by the city, which deposits shall be secured in the same manner as city funds are required to be secured. No disbursements shall be made from the funds except in accordance with rules and regulations adopted by the Port Authority.
(Prior Code, § 44.16) (Ord. 0-99-0027, passed 12-20-1999)