There shall be selected a depositary for the funds of the waterworks system in the manner as provided by section 95.280*, and all moneys received from water consumers shall be deposited daily by the manager of the said waterworks system, and all to be drawn out of such depositary on warrants drawn upon said depositary and signed by the president of the board of waterworks commissioners with the seal of the board attached, countersigned by the mayor.
§ 91.240, RSMo