§ 8.7. Depository:

Latest version.

The Council shall designate depositories for city funds and shall provide for the regular deposit of all city moneys. The Council shall provide for such security for city deposits as is authorized or permitted by statute, except that personal surety bonds shall not be deemed proper security.

State law reference

Deposit of public moneys, MCL 211.43b, MSA 7.86.

                    
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