§ 203-69. Custodians of Funds.  


Latest version.
  • The city treasurer shall be the custodian of the retirement system regular bank account. All payments from said account shall be made by the treasurer only upon vouchers signed by the secretary of the board or persons designated by the secretary.

    The board may designate a master trustee/custodian and delegate to said custodian the authority to make payments from custodial accounts for investment purposes, receive funds derived from investment sales, dividends, and interest, and perform such other services related to investment transactions and custody as specified in the master custody agreement.

(C.O. 203-34; renumbered to C.M.C. 203-69, eff. Jan. 1, 1972; a. Ord. No. 300-1979, eff. Aug. 4, 1979; a. Ord. No. 545-1983, eff. Dec. 23, 1983; a. Ord. No. 457-1984, eff. Nov. 9, 1984; a. Ord. No. 263-1988, eff. Aug, 6, 1988)