A. Use Of Designated Depositories: All banks and all savings and loan associations which are incorporated under federal or state law, and other institutions approved by the mayor and city council, 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. (1990 Code § 7-101)
B. Funds Secured: The deposits of the city shall be secured in the manner required by Oklahoma Statutes. (1990 Code § 7-102; amd. 2004 Code)