HomeMy WebLinkAbout1925-12-23city council minutes/mod
COUNCIL CHA:BERS,DECMfiBER 23RD,1925.
The Council met in Council Chambers in the City Ball in the Citr of Caldwell,
Idaho, in special session pursuant to the call of the Mayor at 1 :30 P.M., December 23rd,
1925, gor the purpose of taking such aotion as might be necessary to protect the deposits
of the City of Caldwell, Ideho , in the Western Commercial Bank, which bank suspended
f business, December 22nd, 1925, with Mayor ?aiey, presiding, 'and CouSoilmen Conley, Dutton,
Eimbrough, Mumford, MoOonnel, and Wheeler, ptesent, constituting the entire membership
of the Mayor and Council of the City or Caldwell,who signified their consent to the
holding of the special meeting, and the transaction of business for which the meeting
I waa called.
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The Mayor announced the purpose of the meeting was to be that of taking such
action as might be necessary to protect the deposits of the City of Caldwell, Idaho, in
the Pdeste. Commercial Bank,whioh Institution suspended business December 22nd, 1925.The
Mayor and Council proceeded to an examination of the securities, which had been deposited
with the Ctty Treasurer of the City of Caldwell, Idsho,to secure the deposits of the
City of Caldwell in said bank
It appearing to the Mayor and Cou::cil that the balance of the City 'Funds on
deposit in the Western Commercial Bank at the time of its closing amounts to $38,799.50
and that all of said securities will be necessary to cover the balances of c or.
deposit, it -7 .._—ed by Wheeler. seconded by Conley, that the City Treasurer take such
action as may be necessary to recover upon the securities in his hands for the recovery of
the funds belonging to the City of Caldwell, Idaho in the 'Western Commercial "'ank,
and that the City Clerk serve notice and demand upon the Fidelity and Deposit Co. of
Maryland for the full amount of its Deposit ry Bond in the sum of $15,000.00, �,ihich
bond aas heretofore given by said bank as a part of the security for such deposits.
The Mayor caused the Clerk to call the roll on the above motion with the following result:
AYES: CONLET, DUTTON, Y.LMBRO UGH, MT12ORD, LICCOUINEL,AND P1fIls L3H.
NAYES AND ABSENT: I09B. ALL COU!:CII"U PRESENT, HAVING VOTED IN THE AFTI1MATIVE,TH73
aAYOR DECLARED THE MOTI01] HAD -ASSED.
It was voted on motion of Wheeler, seconded by Dutton, that the Cou:.cil
adjourn.
APPROVED_ CITY CLERK.