Chapter 3.05
ELECTRONIC FUND TRANSFERS
Sections:
3.05.020 Electronic fund transfer authorization.
3.05.010 Definition.
“Electronic funds transfer” means any transfer of funds, other than a transaction originated by check, draft, or similar paper instrument, that is initiated through an electronic terminal, telephone, computer or magnetic tape for the purpose of ordering, instructing, or authorizing a financial institution to debit or credit an account. [Ord. G-98-36, passed 9-28-98. 1983 Code § 3.30.900.]
3.05.020 Electronic fund transfer authorization.
(A) The City hereby elects to receive electronic fund transfers from the State of Indiana pursuant to IC 4-8.1-2-7(c).
(B) The City Controller may receive funds or transfer money invested or deposited by means of electronic funds transfer when the Controller deems it to be in the best interest of the City. [Ord. G-98-36, passed 9-28-98. 1983 Code § 3.30.901.]