The Treasurer of the City is authorized to enter into a contract with the fiscal agency or agencies of the state in connection with the establishment and maintenance by such fiscal agency or agencies of a central depository system for the transfer or pledge of bonds or other obligations and for the services as authenticating trustee, transfer agent, registrar and paying agent for such bonds and other obligations. Such contract shall define the rights and duties of such fiscal agency so acting and the means and amount of compensation thereof. In addition, in lieu of making provisions in each ordinance authorizing the issuance of bonds or other obligations, such contract may make specific provision for the procedures for payment, identification by numbers or other designations, the manner of issuance or reissuance of certificates, the manner of transfer, the manner of communication to owners of bonds or other obligations for accounting to the City and for canceled certificate of destruction, registration and release of securing interest and for such other matters as may be appropriate.

Until such contract is entered into, the City incorporates by reference all the terms of the contract respecting registration of bonds and other obligations entered into between the State Finance Committee and the fiscal agencies. (Ord. 1137 § 4, 1983).