The Board may require the Utilities Board’s Finance Director as the treasurer of the Board to take bond from such depository as he or she may select for the funds of said utility systems under the Board’s control, to secure the city, the Board and the holders of any bonds which may from time to time be outstanding with respect to said systems, against any loss, defalcation or misapplication of said funds.
(‘79 Code, § 19-25) (Ord. A-106, passed 11-29-54; Am. Ord. 03-27, passed 6-17-03; Am. Ord. 16-19, passed 8-9-16; Am. Ord. 21-21, passed 8-24-21; Am. Ord. 23-31, passed 9-26-23)