§ 3.16.08. Collateralization.

Latest version.

City officials may require the collateralization for the deposit or investment of public funds not fully insured directly by the United States. They may require as a condition for placing deposits or keeping funds on deposit such financial data as they need so as to make an informed decision, including but not limited to, quarterly financial statements, quarterly profit and loss statements and tangible net worth or capital-to-assets ratios.

( Ord. No. 96-25, § 8 )

                    
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