The treasurer shall deposit and at all times keep on deposit, for safekeeping, operating accounts in state or national banks, of approved and responsible standing, all money collected, received or held by said treasurer. Such deposits shall be kept in interest-bearing accounts at the maximum allowable interest rate available on such accounts.
Source: Code 1962, § 1-15-2; Ord. No. 3098, § 1, 10-18-82
State law reference--City depositories, R.R.S. 1943, 16-712 et seq.