A. Use Of Designated Depositories: Banks and all savings and loan associations which are incorporated under federal or state law may be designated as depositories for the funds of the city. The city treasurer shall deposit daily all public funds received by him in such banks or savings and loan associations. (1987 Code § 7-101)
B. Funds Secured: The deposits of the city shall be secured pursuant to the security for local public deposits act, 62 Oklahoma Statutes section 517.1 et seq. (1987 Code § 7-102; amd. 2004 Code)