(A) The fiscal year of the city shall commence on May 10 in each and every year and end on May 9 of the succeeding year, both inclusive.
(B) The bank or banks in which city revenue is deposited shall be selected by the Mayor, the Chairperson of the Finance Committee, and the Treasurer of said city or by any two of them.
(C) No bank shall be qualified to receive city funds until it shall have furnished the City Council with financial statements as required by the state statutes.
(Prior Code, Chapter 3, Article 2, § 1)