The First Financial Bank, a Financial Savings Bank, which is chartered in Stevens Point, Wisconsin, and which was formerly known as the Illini Federal Savings and Loan Association, and its successors, which has a place of business located in the city, is designated as a depository for city funds and revenues pursuant to Chapter 24, Section 3-10-3, Chapter 102, Section 34 and Chapter 85, Section 906 of the Illinois Revised Statutes. The city treasurer may require such savings and loan association to deposit securities guaranteed by agencies and instrumentalities of the federal government equal in market value to the amount by which the funds deposited exceed the Federally insured amount, pursuant to Chapter 102, Section 34 of the Illinois Revised Statutes. (Ord. 813 § 1 (part), 1990: prior code § 2-7-13(B))