The Caldwell tribune. [volume] (Caldwell, Idaho Territory [Idaho]) 1883-1928, 1909-11-27

AN ORDINANCE
| PROVIDING FOR THE CARE ANL
| KEEPING OF MONEYS IN The GUS
! TODY OF THE CITY TREASURER Or
THE CITY or CALDWELL, IDAHO,
| AND PRESCRIBING PENALTIES AND
| REPEALING ORDINANCE No. los, EN-
TITLED, AN ordinance providing fol
the care and keeping OF moneys in the
custody OF the City Treasurer of the Cit.
OF Caldwell Idaho. and prescribing pen
alties." PASSED AND APPROVED ON
BE II ORDAINED BY THE MAYOI
AND COUNCIL OF THE CITY Oh
CALDWELL, IDAHO:
Section l. Any National or State banking
corporation resident and doing business il
the City of Caldwell, Idaho, complying with
| the conditions and requirements of thii
ordinance, may, upon being designated by
the City Council of the City of Caldwell
| become a City depository.
| Section q. Every such banking corpora
ton before it shall be permitted to receive
on deposit any money belonging to the City
shall file with the City Clerk a good and
sufficient surety bond, to the City Of Cald
well, to be approved, by the City Council
| in some approved Guaranty and Surety Com
| pany, authorized to do business in the
| State OF Idaho, which bond shall be condi-
toned upon the payment to the City Of
| Caldwell upon order or demand of the City
| treasurer, at any time designated by the
! City Treasurer, of so much or al LOT the City
moneys deposit with such banking cor
| poration together with the accumulated in
terest thereon at the rate fixed by the City
| Council
| PROVIDED, That when the bond of the
| established depository is not eual to the
| amount of money deposited therein the City
Council may designate any other National OF
State banking corporation in the City OF
1 Caldwell a depository and the City Treas
| urer shall deposit the over-plus of such
| money with such bank banks desig
4 mated;
| PROVIDED, That the City Treasurer
shall have filed bond in some approved
| Guaranty and Surety Company, covering thu
| amount of money deposited in such bank or
banks Such band or banks shall execute
to the City Of Caldwell good and suffi-
Gent bond, with not less than FIVE re.
| sponsibe business men sureties, to the
4 effect chat they, will jointly and severaiiy,
save the said City from any loss by reason
Of such deposits being made in any such
| bank or banks.
Section :. The City Council shall not ap.
| prove the bond of any such banking cor
poration until fully satisfied that said bond
is good and sufficient to indemnify the City
| against loss and that said corporation IS
| solvent and has unimpaired, the paid up
capital claimed by it and the Council may at
| any time require any such depository to
| furnish new and additional. bond of the kind
herein provided for and may also revoke the
| designation of such depository and imfne'
diately upon such revocation such corpora
| ton shall cease to be the City depository
and all moneys with accumulated interest on
deposit therein shall be Immediately trans
mitted to the City Treasurer by such cor
Section a. The City Council. by one or
| more Of its number, may before designating
| depository make thorough examination and
investigation into the condition, of any bark
ing corporation which shall make application
| to become a City depository and thereafter
lie
such investigation and examination OF the
| condition and resources of such corporation
as the Council may deem necessary and adj
visable and any such banking corporation
| which shall neglect or refuse to afford the
| Council every facility for ascertaining its
financial condition and resources, shall not
| be designated as depository and II pre-
| viously designated; such designation shall be
/ Immediately. revoked, by the Council.
Section S. The city Council shall tx the
| rate Of interest to be paid by said dePosi'
tories upon all City moneys so deposited with
it, which rate of interest shall be the high
est obtainable upon. daily balances and the
| amount of deposit IN the designated sdeposi-
tories, shall not at any time exceed the pen
atty Of the security bond furnished as herein
| required.
the first Monday of each month and oitener
| il required by the City Council, file with the
| City Clerk and the City Treasurer, in dupl-
| dent, vice-president or cashier Of said bank
| ing corporation showing the amount OF City
4 moneys in each fund, on deposit with it At
the close of each day Of the month proceed
ing, together with a statement of the intey-
i est accumulated thereon and on the >hrst day
Of August, Ist day of November, 1st day OF
| year, SHAH make and file with the City
Clerk and City Treasurer, in duplicate, a
full statement Of all City moneys deposited
with it during the proceeding quarter. TO-,
Igether with statement of the accumulated
i interest for such quarter, computed on daiiy
balances, and such interest shall thereupon
nosit balance from the FIRST day of each
i quarter and the interest shown by such
| statement to have been earned shall there
proportion to the amount earned by each.
po sff 81 City moneys S shall be in writing
| eli Of the City Of Caldwell and flied with the
/ City Clerk and no such offer shall be made
public until opened by the Council for con-
Sections 8. Whenever the Council shall have
| designated repositories and all the conditions
/ required o. such repositories shall have been
| complied with, the City Clerk shall notify, in
| writing, the City Treasurer of the action Of
/ the Council, giving the name Of the deposit
/ toriesh and the rate Of interest which. such
deposits is to bear and It is hereby made the
| nit to such depositary' so designated, all
| City moneys and any and all sums so de,
| TO be in the City Treasury and such Treas
urer shall not be liable for any loss Of such
/ deposited or any part or portion thereof,
kresultfng form the failure or default OF such
| Repositories not resulting from the fault or
negligence Of the Treasurer.
| Section Q. The Treasurer SHAH draw upon
| such depositaries. in such amount or
| amounts as shall be designated by the Coun;
ell as funds from time to time are required
nv the Treasurer to meet the lawful de-
mands upon the treasury. -,
Section 10. Ordinance No. Jos, entitled,
IAN ordinance providing for the care and
keeping of moneys in the custody Of. the
| City Treasurer of the City of Caldwell. Idaho,
and prescribing penalties" passed and APP
| proved on the I3th day Of February, 1908,
and ali ordinances in conflict with this or
| dinanee are hereby expressly repealed.
Passed BY the Council this AMID day OF
Approved 81 the Mayor this z3rd day of
''''e'''"''' '''' J. B. GowENs
c. !. SHORE wager Gfsfas
Attestie