§ 321.11. Authorized fiscal agents for the collection of city funds.


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  • The Columbus depository commission shall have the authority to designate a person or organization as an authorized fiscal agent, subject to the approval of the city auditor. An authorized fiscal agent shall be responsible for the collection and temporary custody of city funds until such time as the funds can be deposited into a bank account of the city that has been approved as an eligible depository pursuant to Section 321.09 of the city codes. Funds collected by an authorized fiscal agent as previously described shall not be construed as a deposit as defined in Section 321.02 of the city codes. The Columbus depository commission shall promulgate rules and regulations, subject to the approval of the city auditor, for any person or organization designated as an authorized fiscal agent. Any person or organization designated as an authorized fiscal agent shall be held to all of the duties and obligations of a fiduciary as set forth by the laws of the state of Ohio.

(Ord. 21-01 § 1.)