Section 454. Servicing of municipal loans by banking institutions

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The
  municipality is  authorized  to  make  provision,  either  in  the  loan
  agreement  or  by separate agreement, for the performance by one or more
  banking institutions of such services as are generally performed by  any
  such  bank  itself owning and holding such a loan and as may be approved
  by the banking board of the state banking department, for which services
  a bank may make and collect such service charges as  the  banking  board
  shall prescribe or approve.

                    
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