The board shall deposit all moneys in the bank selected as the fiscal agent of the city in which it is located, but only if the moneys draw the same rate of interest as the city receives on its deposits. Otherwise, the board shall make its own selection of the bank.Acts 1937, No. 250, § 14; Pope's Dig., § 9869; A.S.A. 1947, § 19-1814.
Arkansas Legal Code