§ 16-13. Deposits for principal and interest payments.

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The Comptroller shall timely deposit or provide for the deposit with any paying agent designated by the Comptroller, reasonably in advance of payment requirements, sufficient moneys to pay the principal of and interest on obligations of the City. The Comptroller shall keep a record of the deposits and all transactions relating to the services performed by any and all paying agents. The Comptroller is hereby authorized to do all acts and execute all documents necessary to carry out the purposes hereinabove stated.

                    
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