[Code 1974 §§ 7-1, 7-2; Code 1985 § 2-96;
Code 2005 § 2-131]
All banks within this City which are incorporated under federal
or state law are hereby designated as depositories for the funds of
the City. The City treasurer shall deposit daily all public funds
received by the him in these banks. Funds may be transferred from
one depository to the other as the Board of Commissioners may direct
by motion or resolution. The deposits shall be secured as provided
in the Security of Local Public Deposits Act (63 O.S. §§ 517.1 — 517.7)
and such provisions are adopted insofar as they are applicable to
this City.
