143.08 CUSTODY OF SECURITIES.

   (a)   All eligible investments in certificated form acquired by the Director pursuant to Section 143.07 of this chapter shall be kept in a safe deposit box or vault belonging to an eligible depository. Other eligible investments may be in book entry form through the Federal Reserve Bank or other depository institution and are held in the account of a financial institution. All securities purchased by the Director must be held for the credit of the City by a qualified public depository or other financial institution and must be kept by the depository or financial institution in an account separate and apart from the assets of the depository or financial institution.

   (b)   The Director may enter into a Custodial Safekeeping Agreement with one or more public depositories or qualified trustees as set forth in Ohio R.C. Chapter 135. All securities purchased and/or collateral obtained by the Director shall be property designated as an asset of the City and held in safekeeping with no withdrawal of such securities, in whole or in part, from safekeeping except as authorized by the Director.

(Ord. 08-94. Enacted 10-27-08.)