The director of finance is hereby authorized and directed to pay to the state agency such sums as may from time to time be due and payable to such agency in accordance with the agreement and applicable federal and state laws and regulations and requirements issued pursuant thereto. Such payments, except as hereinafter provided, shall be made from the appropriate fund of the city quarterly or at such time or times as the state agency may hereafter prescribe.
(1953 Code, ch. 20, ยง 31)