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HomeMy WebLinkAboutORD 231SECTION 1, I � / The City Treasurer of thp City of Caldwell sha, 1 e Wit, a at all times k6ep on depdsi for B&k& 'keepin(;, in equal 'amounts in the National, State and Private banks resident and ,doing business in said city and complying with the provisions ,of this ordinance, the amount of monies in his hands hold by ,him as such city treasurer. All deposits shall be subject to payment when demanded by the Cit.,r Treasurer on his chook and. receiving and holding ar* such deposit as aforesaid shall be on given by said bank. SECTION B. T.HE amount to ©# paid by any and all banks, under the pro- sions of this ordiTunoe for the privilege of keeping sach monies on cloposit shall be computed on the average daily bal-mces of such city'ftmds kept on deposit with any bank &nd shall. be , A i credited and paid to the City of Caldwell, Idaho, quarterly on the first days of Janua:r.-•, April, July and October of each and every year and such depository shall quarterly on the days afore- said render 4 statement in duplicate to the Tbeasurer and the City Clark showing the amounts so credited. The Treasurer shall require and it is hereby made a duty of every such depository to keep a6ourate accounts of such monies kept with it showing the amount and when deposited and to reider at the beginning of each and every month to the Treasurer and to the Clerk of said City a statement in duplicate showing the daily balwoo of the city's monies hold by it during the raonth next preceding, and the interest thereon and all sums paid to the City for the privilege Of k0o')ing said monies on deposit as aforesaid, shall be credited by the Treasurer to the account i of the current expense fund. The treasurer shall not make such deposit in any bank or ban'!�s other than those which shall have complied with the provisions of this ordinance. SECTIGH 3. Par the security of funds so deposited under the provisions of this ordinance, the City Treasurer shall require all such depositories to give bonds for the payment of such deposits and interest thereon. Said bonds when given shall run to City of Caldwell, Idtho, and must be approved by the City council of the le- ,, A' said /City of Caldwell; said bonds shal�� onditio n that the depository shall at the beginning of each and overy month render to the Treasurer and Clerk a statement in duplicate, showing the ly balance and amount of monies of said city hold by it durirg the month preceding and the amount of interest thereon and for he payment of said deposit and interest theroan, as horeinbeforo roviaed, when demanddd by the said City Treasurer on his check t any time and generally to do and perform whatever may be required y the provisions of this ordinance and for the Lgaithful discharge f the trusts imposed in such depository* l Said bonds, shall be in substance the same as are provided to be given by banks seeking to be made depositories of county funds in the State Of Idaho, the necessary changes being made them ,ins ach surety may become severally liable for any sum less than the whole amount that he may Specify that ! stands for and in 11 such cases if there should be a default of the principal, each irety shall be hold for the whole amount that he agrees to stand or, but may comp&I his solvent co-sureties to contribute pro ata in the event that .i10 pays for more then his proportion. ij Sureties shall be required to justify in double the amount for which each respectively becomes liable on said bond, in all other roppoots the Justification of surety shall be an required by Section 11934 of the Idaho Revised Codes. All bonds after 4pproval shall bddeposited with and held by the City Clerk of the City of Caldwell. 1 4. 3 CTI01. .The 'Word "Bank" or "Banks", whenever used in this ext-i-ea-e all be hold to include Trust Compahiee doing a banking business 0 :td the word "bonds" to include bonds .furnished by the surety Qj,bmpanies authorized and qualified to do bus- insess in this state. SECTION 8, The City Council shall not approve of the bonds of any such bank until fully satisfied that said bond is good arA sufficient tP indemnify the city against lose. All personal bondz shall be i nvestigated and the sufficiency of the same or the Sureties thoreon�, determined, as often as once aaak year and they shall be renewed at least every two years. The City Council may cause an investigation to be made at any time to ascertain the sufficiency of any bond jiven under this ordinance and raay require new or additional 0 9 Bonds whenever, in their judgment the safety of any deposit of city monies Aer this s z requires it; and such deposit sh�ll be withdrawn unless such now or additional The city traasurer shkl not be liable, personally or upon his official bond. f or any monies that may be lost by reason of the failure or insolvency of anjr bank which becomes S depository under this ordinance, except for funds depositeW in excess of the amount • bonds deposited b� such banks with the City Clerk as herein provided. SECTION 60 It shall be the duty of the City Treasurer to file report in writing to the Clerk • said.city • the last business Zay • each and every month, th owing exactly how much cash he haZ M in the treasury and in what bank or banks deposited and if in more than one how much in each, Which report shall • carefully examined by the said city council at the next regular session following the Ifiling of the same and com by the said council with the books of the Treasurer at least twice each year. Tic rate of interest to be paid by said do on said city SECTION Any city treasurer who shall violate any provision if this ordinance and any Official of any depository bank, s specified in this ordinance, who shall make any false Otatem .nto in any report to said city as required by this rdimmee, shall be Fuilty of a misdemeanor and upon co n- Viction there4 shall be findd any sun, not exceeding one 6ndred dollars. 0 4F 0 6 11101MOUS