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Types of deposits—Bidding.

Columbus City Codes § 321.07
in effect
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321.07 - Types of deposits—Bidding. The commission shall provide for the deposits and withdrawals of the public moneys of the city as it deems in the best interests of the city. Bids will be accepted by the city treasurer from banks whose applications have been approved for the deposit of inactive funds pursuant to notice published weekly in the city bulletin. The city treasurer shall, in all instances, seek bids on such moneys from at least three such banks. Awards of inactive deposits shall be based upon the rates of interest that may be secured, the time in which it is probable that the city will need the use of moneys to be deposited in a particular type of deposit, and the regulations of the governing bodies regulating member banks with respect to the types of deposits, the rates of interest, and the length of notice required for withdrawals. The commission shall, using the above standards, define and delimit each type of deposit that it may adopt for the deposit of the public moneys. (Ord. 1796-75.)
Source: City of Columbus, City Codes and City Charter (Municode Library, library.municode.com)URL: https://library.municode.com/oh/columbus/codes/code_of_ordinances?nodeId=TIT3FITACO_CH321DEPUMO_321.07TYDEIDFetched: 10/27/2026

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