The banks designated as depositories for monies and funds of the Town are those responsible banks located in the State which may hereafter be approved and designated by written resolution duly adopted by a majority vote of the Board of Trustees according to law. The Town Treasurer shall deposit all Town funds in the name of the Town in one (1) or more of said banks as may from time to time be directed by the Board of Trustees. The Board of Trustees may by written resolution authorize the Treasurer to invest all or any part of such funds and monies in securities which are authorized for such investment by state law. (Ord. 1002 §11, 2009; Ord. 1003 §1, 2009)