Any securities pledged as collateral pursuant to Section 107.05 shall be delivered either to the Finance Director or to an independent financial institution approved by the Finance Director to serve as trustee (herein referred to as the "Trustee") under a Trust Agreement therefore entered into between the City and such institution in a form approved by the Director of Law. Fees and expenses of the Trustee shall be paid by the depository.
(Ord. 2006-075. Passed 8-14-06.)