The finance manager shall deposit the funds of the city from day to day in such banks of the city as shall be designated by the commission as "city depositories". No bank shall be designated as a city depository until it shall have executed a bond to the city with sufficient sureties, or equivalent security, approved by the commission, in an amount equal at least to the largest amount at any time to be deposited in such bank as determined by the finance manager. The commission shall have the power to direct the withdrawal of all such monies from any such bank for any reason. (Ord. 2905, 2-26-2001)