Sec. 8.6. Depository.
The Council shall designate a depository or depositories for city funds, and shall provide for the regular deposit of city moneys therein. The Council shall provide for such security for city deposits as is authorized or permitted by the general laws of the state, except that personal surety bonds shall not be deemed proper security.
State Law References: Depositories, MCL 129.11 et seq., 211.43b.