§ 2-965. Deposit of moneys.

(a)

The chief financial officer shall, on the business day next following the day on which money for any bill is collected, deposit the money.

(b)

City depositories.

(1)

Each city depository shall:

a.

Provide the city with an affidavit certifying that neither it, nor any of its affiliates is, and none will become a high cost lender or a predatory lender as defined by Code section 58-102. The affidavit shall be in a form prescribed by the city and shall be sworn by one or more of the officers duly authorized by the depository;

b.

Permit the city to inspect all documents and other records required to verify that the affidavit is true and correct.

(2)

The city shall not keep any city funds on deposit in any bank or other financial institution that is a predatory or a high cost lender, or an affiliate thereof, as defined in section 58-102 of the Code of Ordinances.

(Code 1977, § 7-4013; Ord. No. 2001-71, § 2, 9-25-01)