[R.O. 1985 § 2-83; Ord. No. 725, §§ 1 – 6, 8 – 12, 5-1-1962; Code 1965, § 5.28; Ord. No. 1562, §§ 1, 2, 2-25-1975; Ord. No. 1594, §§ 1, 2, 2-10-1976; Ord. No. 1814, § 1, 3-10-1981; Ord. No. 5373, 7-25-2023]
(a) Until otherwise provided by resolution of the Board of Aldermen, the Board of Aldermen may choose an official depository by competitive bid. Said depository shall be required to notify the City Clerk from time to time, and not less frequently than semi-annually, as to the name of the disinterested banking institution or safe depository in which the securities as required in Chapter
110, RSMo., are deposited; and shall from time to time, and not less frequently than semiannually notify the City Clerk of the amount of such deposits with respect to each bank account of the City.
(b) The City Finance Officer shall maintain such separate checking accounts as necessary to provide sufficient accounting controls on City funds. Checks for disbursement of funds must be signed by the City Clerk and by the Mayor, or, in the Mayor's absence, the President of the Board of Aldermen. To obtain a cashier's check or money order from a City account, or to withdraw funds from a City account, the Mayor and City Clerk shall both be physically present at the bank or depository from which such a cashier's check/money order is to be issued, or from which funds are to be withdrawn. In the absence of the Mayor, the President of the Board of Aldermen may substitute for the Mayor.
(c) Funds of the City that are required to be expended for the maintenance of streets and highways, such as receipts from motor vehicle licenses, road refund taxes from the county and gasoline taxes from the State, may be accounted for in the general fund in appropriate accounts.
(d) Funds derived from the sale of bonds must be kept subject to the limitations and provisions of the Revised Statutes of Missouri.
(e) Any funds received by the City in trust or on temporary deposit for special and limited use or purpose, or under escrow, shall be deposited in the general revenue fund, with release of said funds to be controlled by the City's internal accounting system.
(f) The Board of Aldermen may from time to time, by ordinance or resolution, provide for the establishment of other bank accounts. The authorization for the account shall designate the officials who shall sign checks drawn on such account.
(g) The Board of Aldermen, by resolution, may authorize another elected official to sign checks in the absence of the Mayor or President of the Board of Aldermen, under such terms, conditions and limitations as may be provided in the resolution.
(h) Bonds, notes and other evidence of debt of the City shall be signed by the Mayor or President of the Board of Aldermen as "acting Mayor" and shall be attested by the City Clerk.