Anderson Municipal Code Ch. 3.08 Cash Bond Fund

A special fund is created in the city treasury to be known as the "Cash Bond Fund," into which fund shall be deposited all cash bonds accepted by the city council pursuant to the provisions of this code or any other ordinance or resolution of the city under the terms of which a cash bond is deposited with the city guaranteeing the faithful performance of any agreement with the city. Funds may be withdrawn from the fund only upon warrant drawn and approved in the normal manner and upon certification by the proper officer having supervision of the performance of such agreement as to the partial completion or final completion and acceptance of the work to be performed under any such agreement.

(Prior code § 2.32)