§ 5.08.020. Contracts with depositories—Authority of mayor.

The mayor shall have authority to negotiate from time to time contracts on behalf of the metropolitan government with any and all of the banks and trust companies specified in Section 5.08.010, for periods of two years, for the deposit of the money and funds of the city and disbursement thereof, and for the payment to the metropolitan government, by the depository banks and trust companies, of interest on the daily balances, at the highest rate of interest which can be negotiated and contracted for with such banks and trust companies, computed and credited monthly.

(Prior code § 15-1-27)