The Council shall by ordinance provide for the custody of all funds of the Municipality and for the deposit of funds in a bank or banks. All funds received on behalf of the Municipality by any officer, employee or agent thereof shall be promptly paid over to the Director of Finance and by him or her promptly placed in a depositary bank, but the Council may authorize such sums as it deems proper to be kept in cash for the daily operation of any department or office. With the concurrence of a majority of the members of Council, moneys of the Municipality may be invested in bonds or notes of this Municipality, or any other investment permitted to municipalities by law, in such manner as is now or hereafter authorized by the general laws of the State of Ohio.
(Amended 11-7-00)