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Deposit and sale of bonds generally.

Memphis Charter, art. 26, § 166
in effect
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Sec. 166. - Deposit and sale of bonds generally. All bonds purchased by the Sinking Fund Commission which are not required to be cancelled as provided for in the next preceding section, shall be deposited in a safety deposit vault in the City of Memphis to which access can be had only by the Commissioner of Finances and Institutions and the Comptroller of the City of Memphis, jointly. The Sinking Fund Commission shall have authority to sell any of the bonds purchased by it as an investment for any of the sinking funds of the City of Memphis at any time said Sinking Fund Commission shall deem such sale advisable. In the purchase and sale of bonds by the Sinking Fund Commission under the authority herein granted, the Sinking Fund Commission shall do so upon the best obtainable terms. (Priv. Acts 1937, ch. 497, § 3)
Source: City of Memphis, Code of Ordinances and Charter and Related Laws (Municode Library, library.municode.com)URL: https://library.municode.com/tn/memphis/codes/charter?nodeId=PTICHRELA_ART26SIFUCO_S166DESABOGEFetched: 10/28/2026

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