§ 3-2. Agreements with custodians.

The Director of Finance, the Board of Estimates, and the Board of Finance are hereby authorized and empowered to execute and approve, on behalf of the Mayor and City Council of Baltimore, from time to time, agreements pertaining to the safekeeping by such custodial institutions as may from time to time be selected by them of collateral posted by financial institutions to secure funds deposited therein by the Mayor and City Council of Baltimore and the Director of Finance and other departments, agencies, and officials of the municipality.