§ 69. Duties of treasurer. The treasurer shall demand, collect, receive and have the care and custody of and shall disburse all moneys belonging to or due the city from every source, except as otherwise provided by law. All moneys of the city received by the treasurer shall be deposited and secured by him daily in such depositaries as shall be designated by the board of estimate and apportionment in the manner provided by § 10 of the general municipal law. The interest, if any, on all deposits shall be the property of the city and shall be accounted for and credited to the appropriate fund. No money shall be drawn from a city depository except on checks signed by the treasurer and countersigned by the comptroller and made payable to the person entitled to receive the same. He shall at no time permit any fund to be overdrawn, nor draw upon one fund to pay a claim chargeable to another. No money shall be paid out by him except upon the warrant of the comptroller. He shall render to the comptroller at the end of each day's business a detailed statement of all moneys received and paid out by him. He shall perform such other duties, as may from time to time be prescribed by law, or by ordinance of the common council, not inconsistent with the provisions of this chapter, or the laws of the state. By resolution duly adopted, the common council or other legislative body of the city, may determine to enter into a contract to provide for the deposit of the periodic payroll of the city in a bank or trust company for disbursal by it in accordance with provisions of § 96-b of the banking law.