§ 19-59. Funds.

Latest version.

All moneys belonging to the trust fund shall be deposited by the trustees in the city depository and shall be withdrawn only by written direction of at least two (2) trustees or their nominee. Such trustees shall constitute and appoint a financial institution as the agent to take custody of the securities belonging to the trust estate, but without power or authority to invest or reinvest either the corpus or income of the trust estate.

(Code 1977, § 1.196; Ord. No. 98-7, § 9, 3-17-98)

                    
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