§ 4-2. Banks as tax-collection agents.

(a) In general.

The Director of Finance of the City of Baltimore is hereby authorized and directed, from time to time as may in his judgment seem necessary or desirable for the convenience of the public, to appoint banks, trust companies, and other financial institutions to act as agents of the said Director in the collection of State and City taxes, water rents, fees, and other charges:

(1) provided that the financial institutions hereinabove mentioned are chartered by the United States of America or the State of Maryland and have authority under their charters to receive and hold money on deposit; and

(2) provided further that they have been previously designated and approved for the purpose by the Board of Finance.

(b) Forms.

The Director is further authorized and directed to provide and establish such forms of receipts, blanks for daily reports, and other material as he may deem necessary in the execution of this section.

(c) Effect.

Municipal bills receipted by any financial institution so appointed shall have the same force and effect as if the same has been receipted by the Director.

(d) Agreements.

No agreement made by the Director with any bank or trust company pursuant to the authority granted by this section shall be binding on the City until it shall have been approved by the Board of Estimates.