HomeMy WebLinkAboutORD 105• 0 1 -. • •
02DINANCE No._LaL_
ILL—
An OrWrance PrOv7_0ing for the carn anJ AnapinS of none 78 in the
contody of thr City Treasurer of tho City of pros-
cribing pena?tieo.
W it WOW by the Hayor hnd Council of thn 007 of Calawell:
SECTIOZ 1. Any Wational or aCato banking corporation resident =6 WnS
MinpHs in the City of Mlawell,complying with the conditione vnA re-
quirements of thin ordinanon,may,upon being desianatea by the City Coun-
cil of the City of Caldwell become the City daponitory.
87CT107 2. Every such bnnhinS norporation before it bp permitted to re.
ceive on Reposit nny money bvlonjinS to the City shall file with the
City clerk a Yana and suffiniont surety bora,to the City of C"lawell,
to be approved by the City Council, in some approvrd Guaranty an' surety
Compan•,anthorized to Go businpas in thn State of Idaho,which bond chnll
In nonjitionrO uron the pa,ent to the City Of Caldwell upon order or
demand of thr City Tronsurer,at any Unc,dozignatod by Saia TroLnurer,
of Eo much or all the City money On Repcoit with said banking corpora -
tion,tagethor with acaunalatca -n `ti thrrnon "t the rate fixoa by
the Citg Council.
V1.7101. 3. The City Council Mall not WlOvo the bond of any ouah bun-
tin, oorroratinn until full unt th Eiij YOM iN Zood and saffi-
cient to indenniQ the City against loss tnd that saij corpora i•
solvent rnd W unimpairod,tho juid up capit c l"i no d b it ond the
'Inneil may at any time re any as % 02 ROTY W WnKh new or
"ItiOnal bond of the kink Wrein rroviaoj for and may al6o revoke the
da"Sna"On OZ Fit ch depo"O ana ' 7 " lnea '" 1 7 Upon 2 = 1 MvOcPtion such
corporation shall sense, to-be the Cit7 dcMitory nnJ All noneys with
'" Y "t On NP therein 2hall be inm transnitted
to Or City Treasurer 'f),7 ("Orrorotion.
3
STUTICE . 4. who ljonnoil,hy Ono or more of its
dezignatinS a depository n2he thorouSh examizatior nna in7catigation into
the condition of any hnnhinZ corporation which nay hate nppliowtion to
become the Cit7 depository and thereafter no the Council deem neces-
sary,the such invc&Qation W oyaninttion of thn con6ition End resour-
= of thp said corporation as the Council may deem necessary or nlvisab-
In on? ury sush WnIM7 corporation which Mall Wit or Musa to Lfford
the Conrail overy facility for ascertaining its finnnaial cond.ition and
resourece,ehall not in Mignatea as a depository and if prWoncly dccis-
-WeE,Buch designation shAll hn at once rnvolea by the Council.
77077M 5, 73,1p MY Council ohnil fix the rate of interest to be paid
ty said appositor.up"on W-1 City nonoys cu doponited with it, which rntc
of interent Hhall bra the highest obtninabln an daily MUnce2 on the
Mount In Jn"oNit in the anaignnteJ aepoHitcy4
I thr!! not, of Unr time,
OX0 thr Pondaty OT the ueanraty bond furnj a" hnrein Proviind.
270TIOZ 6, Scid City depo8it I Mholl an M- �7J-� nonday of ont
------ -1 in h.
and oftener if requirad by the City JcunOil,file with thv MY ClSrh MA
'ity 0"Burar, in amicutn& stnhannnt MY verified b7 t n
he presilet,
vice PresiOnt or caphinr If 21 OWNS norporation showing the amount
of Cit n0ne n nl? f urd,nr 40 1 0 rit with it at the clazo of b ... a
on enah da7 nf UP month prrcWjnE,tognthnr with a stntament of t%, j,-
""t nnnnnulatrn th-Pnon and on Tv I,t t�, of August
o" 1 Of Wr 3st--- Or
i 000
7enr Mahc anj SO with thn City nnR Cit,
Plicat" full Stn"Ont of all " Y "W dePOSMOR with it Wring t,'!C,-
PP qnnrtcr,t0gnthnr with a statenent Of =scumnlated intoroot fay.--
Ruch WrtPr, an amily bnInncnqn,d such "t€?i'C ;v Chall thereupon
bn WOO tn nW forn a Part of the deposit byUrne WOM th- fir2t day of
each qnarter,nno the intern8t bhown by "neh sta,ment to Rmn • rPn enrn-
nd P hrIl thnronpon be arportionsd to 't 00 vOrn! Wde A proportion to
thp amount eRrm by Sm.
NCTIT', 7. All off" fay "" Wn WrOnit nT wf7 Q , j ,
in writine amp addr "ed to tic 70n. 7myor an&
ev "I"011 Ono fil" with top "" 11"k " no such cffP PhOl be mEje
• 0
IIIIJuil. oppne& by th? TounAl for
s, Lhcnnvnv the UoUnAl h,11 have voignatna a upontory
,, 11 to. con oltions
from
yeanjroA
of arch
Kepositary
sh-all havn becn
compioa withtho
or nngligence of UP
it ,
Cl , ,j
h,11 0 tjfr , 7 n
w ritine,thn
city Trnanurer
, th , ,+j,,
n f th,
v
the
none
of =ah
anpozit= u& the
rAn of intereut which WA anyooit is to War nrd horeby nudo
thn auty of the city Trecguror to fn t.-rn.--nsnit to Ench depositary
Ea u. C':4' . city nonsyN and any W all humu Ea depositea in sn-
ch Rannaltory shall be donmed to be in thr City troapury ana ouch Mre-
vnurnr shall not bn l nlin Ar "nY 1000 OT Bneh WOvitt O nn y r nrt 0- '"
portion the rnof,resulting
from
the failure or de Ault of
any 6uch dop-
anitory,not revulting
from the
f
or nngligence of UP
TrenEnrer.
TqC7TI7 9, phn
Trensnrer
uhal
CLr
upon much aepnvitory
in unch wiv)nnt
mr -"ourts m
shall bo Onwignatod
by
the
QUO
Lo mr Lre roqniraa by tho Troaonrar to neet the l td: ful 0ona1'ia3 upon
the trezonry.
mmin 10, ill ordin2nePH nnd parts of orainanery in confliA wit.a
thin 0YRAMnon txe •aroby yeponloa.
MOW and nyyrovoa thin 11 of' February, luou.
/ /t in f I I I
51 v ° / --- V " el
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