A. The First Security Bank of Idaho, N.A., the Bank of Idaho and the Idaho First National Bank, are designated as official depositories of the city.
B. Subject to the provisions of title 57, chapter 1, Idaho Code, the public funds of the city shall be deposited and kept in such depositories; provided, however, that the city treasurer may be directed and empowered from time to time, by resolution, to invest in securities as provided in section 50-1013, Idaho Code or section 57-127, Idaho Code.
C. The treasurer of the city is directed and empowered to invest monies in his hands in securities of the U.S. government, time certificates of deposit of public depositories.
D. The treasurer of the city is further directed and empowered to deposit these funds which are needed for day to day operations in a passbook savings of a public depository. (Prior code §2-6.1)