Article I In General
[CC 1997 §11.1; Ord. No. 1094-75, 1-2-1975]
The City Manager, with the approval of the City Council, shall designate banks insured by the Federal Deposit Insurance Corporation or savings and loan institutions insured by the Federal Savings and Loan Insurance Corporation as depository or depositories for the funds of the City of Hazelwood. Any funds deposited in excess of the insured amounts shall be secured by collateral approved by the City Council.
[CC 1997 §11.2; Ord. No. 349, 7-8-1959]
Funds deposited shall be secured by the depository pursuant to provisions of Sections 110.010 and 110.020, RSMo. The City Manager is hereby authorized and directed for and in behalf of the City, to enter into and execute a depository contract, in form satisfactory.
[CC 1997 §11.3; Ord. No. 131, 9-27-1954]
Every person authorized to sign checks or drafts upon public funds of the City shall furnish a sufficient bond to the City in an amount and upon conditions approved by the City Council to insure the faithful discharge of the duty of such person in connection with the disbursement of such funds as an officer or representative of the City.
No person whose duty or authority requires or authorizes the disbursement of funds shall be required to furnish more than one (1) bond for the faithful performance of the duties of his office unless expressly ordered by the City Council.
[CC 1997 §11.4; Ord. No. 349, 7-8-1959]
The City Manager and his designated agent are hereby each individually authorized to endorse checks for deposit or collection.
[CC 1997 §11.5; Ord. No. 2131-89, 1-4-1989]
Withdrawals may be made by and on behalf of the City and checks executed and signed jointly by any two (2) of the following officers: The City Manager and his designated agents, including the Director of Finance.