3-1-1: DEPOSITORIES DESIGNATED; DEPOSIT OF FUNDS:
   A.   Use Of Designated Depositories: Funds of the town shall be deposited as required by law. The town treasurer shall deposit daily all public funds received by him into designated banks or savings and loan associations. (1984 Code § 7-101)
   B.   Funds Secured By Unit Collateral System: The deposits of the town shall be secured by the unit collateral system provided by the Oklahoma Statutes. (1984 Code § 7-102)