109.08 COLLATERAL DELIVERED TO DIRECTOR OF FINANCE OR FINANCIAL INSTITUTION.

Any securities pledged as collateral pursuant to Section 109.07 shall be delivered either to the Director of Finance or to an independent financial institution approved by the Director of Finance to serve as trustee (herein referred to as the "Trustee") under a trust agreement therefore entered into between the City and such institution in a form approved by the Director of Law. (Ord. 87-253. Passed 5-27-87.)

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