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§ 2-4-5 — INSUFFICIENT SECURITIES

Austin City Code (Supp. No. 174: codified through Ordinance No. 20260521-050, effective June 1, 2026) · Austin City Code § 2-4-5

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§ 2-4-5 - INSUFFICIENT SECURITIES.

If the amount of City funds deposited with a depository bank increase above the amount of securities pledged by the bank, the bank shall immediately pledge additional securities with the City sufficient to increase the amount of the pledged securities to an amount not less than the total amount of City funds on deposit in the bank.

Source: 1992 Code Section 5-8-5; Ord. 031204-9; Ord. 031211-11.