The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1906-05-24

10 sum acsrccating the largest sum
Which may be deposited AZ any ono
time The condition OF such bond shall
be that such deposit shall be promptly
paid upon the cheek or draft of the city
Treasurer. and the hondsmen Of such
City Treasurer shall not be Liable for
such deposit but in no case shall any
Of the amount Of such bond be sub
scribed by the officers Of such bank.
and such bank or banks shall on the
FIRST Monday OF each month nie with
the city Clerk statement OF the amount
OF money on hand at the close OF bus
iness each day during tho previous
month and the amount OF interest ac-
crued thereon TO such date. ana the
said City Treasurer shall place such in
tcrest to the credit Of the Fee and salary
Fund
Sec p The city Treasurer shan
when making up his deposit for the
bank make a duplicate ticket for such
deposit and file the same with the City
Clerk. and II shall be the duty OF the
city Clerk 20 charge the bank desig-
nated as the depository Of public mon
eys with al moneys deposited by the
city Treasurer and credit the City
Treasurer with such amount deposited.
Sec. 3. Such bank or banks shall at
the end OF each month, transmit to the
City Clerk a statement OF the amounts
received from the City Treasurer and the
amounts paid out BY II and FOR what
purpose.
Sec 4. The checks or drafts OF the
City Treasurer upon the banks holding
the public money shah show upon their
face for what purpose they were drawn.
and q duplicate Of such cheek or draft
shall be attached 70 the warrant so paid.
Sec. g. The City Council shall. at it's
regular meeting ON the third Thursday
in June Of each year, receive sealed pro-
posais for the custody Of the city funds
from any bank doing business within
the city that may desire to be selected
as the depository Of the funds Of the
city. Notice Of such bids shall be given
by the City Clerk. under the seal OF tho
city. 10 each bank doing business In the
city not less than one week before such
meeting. Any bank in the city desiring
To bid, shall deliver to the city Clerk on
Or before the day OF such meeting. a
Sealed proposal stating the rate per
cent upon the daily balances that such
bank offers to pay TO the City FOR the
privilege OF being made the depository OF
the funds OF the city fof the next ensuing
year after the date OF such meeting. Upon
the opening Of the sealed proposals sub
mitted, the city Council shalt select
as the depository Of the funds OF tho
city the bank or banks Offering TO pay
60 the city the largest amount for such
privilegei Provided however. the Coun-
Gil shah have the right to reject any and
all bids.
Sec s. II any bank after having been
selected as such depository shall fail to
give bond as provided for In section ! Of
this ordinance within thirty 1900 days
after the selection OF such depository.
then tie selection OF such bank as the
depository Of the City funds shall be
set aside and be nun and void, and the
City Council shalt after notice IN the
manner heretofore provided, proceed to
receive new bids and select another de-
positoTy.
Sec. z. AS soon as bonds shall be
given and approved by the Council. the
Council shall make an order designating
said bank or banks as the depository or
repositories Of the funds OF the city for
the ensuing year. and sucn order shall
be entered In the Journal. Thereupon
80 shall be the duty OF the City Treas
urer Immediately upon the making Of
such order to transfer to such deposl's
tory or repositories all the funds In his
hands belonging to the city. and imne-
dlatAly upon the recept Of any money
thereafter. he shall deposit the same
in the depository or repositories to the
credit OF the city.
Sec s. All ordinances and parts q
ordinances in conflict herewith are here
by repealed.
Seos 9. This ordinance shall take eff
feet and be IN force from and after it's
passage. approval and publication.
Passed this nth day Of May, 1906.
Approved this 18th day Of May 1906
tsEALO j. w. DUKE.
Attest: Mayor
f. sEIXAs, City clerk.