The Mena weekly star. (Mena, Ark.) 1904-1977, 1911-03-16
County Depository TO Let

Notice is hereby gwen that under
and by authority of an act Of the GEN
eral assembly Of the state Of Arkansas,
entitled, AN Act to Provide DEPOSIT
tory for the Counties of Polk aud
Scott" approved February. 1911, the
county judge of Polk county will at
noon on the first day Of the April term,
1911, of the county court Of said coun-
ty, receive propositions from any
bank or banker or trust company that
desires to be the depository OF the
public funds of said county, and SHAH
on or before noon of said day (Aprll .,
1910 file with the clerk of said court,
sealed bid. stating the rate of inter-
est per annum, payable IN cash, OF
fered to be paid by such bidder for the
next two years ensuing upon the
county funds that may be deposited
in pursuance of such bid computed
upon the daily balance to the credit
OF the county. payable monthly, and
said bid shall be accompanied by a
certified check ofnot less than $250.0O.
Such checks of unsuccessful bidders
TO be returned to them as soon as a
depository is selected and the check
aforesaid Of the successful bidder to
be returned upon the approval Of the
bond required OF such bidder, to be
filed within twenty days after the Sc
lection of said depository, in the sum
of Seventy Thousand Dollars, condi-
toned for the due and proper perform
ance of all the obligations devolving
by law upon said depository, and Tor
the prompt payment at the county
seat, upon presentation Of all checks
drawn upon said depository by the
county treasurer at place to be des-
ignated, so long as said funds shall be
in such depository, to the credit OF
said county, and that all funds of said
county shall be faithfully kept by said
depository and accounted for accord
ing to law. Which bond must be
signed by not less than five solvent
qualified sureties who shall own in this
state unencumbered real estate Of
value equal to the amount of the bond.
Or, in lieu of bond, such bidder may
deposit bonds of the United States Of
face value not less than the amount
of said bond Or said bond may be
given by any authorized guaranty
and bonding company doing business
in this state.
That at noon on said first day oil
said April, 1911, term of said court
said court will publicly open each Of
said bids, so presented, and shall Sc
lect from among such bids, as the de-
pository of the public funds of the
county. including school and road
funds, the bidder offering the highest
rate of interest, as above stipulated
provided that bidders can make separ-
ate bids for one of the school funds. Oh
any part of the school funds, or the
school funds of any district. or dis.
tricts, and another for the county
funds, and the court can select separ-
ate repositories for the separate funds
and that the court has the right to re-
ject all bids.
mat II the depository selected shall
not be located at the county seat il
shall be the duty of the depository Sc
lected to provide for the prompt pay
ment at the county seat of all checks
drawn on it by the county treasurer
aud file with the county treasurer a
statement designating aplace at which
such payments will be made at the
county seat.
The county court may at any time
require new or additional bond to be
given If he deems it desirable or may
lorder such funds returned to the coun-
lty treasurer if deemed necessary fol
the safety of the funds.
In testimony whereof | have here
unto set my hand and seal as clerk Of
said court, this 7th day of March, 1911
w. L. PARKER,
County and ex-Officio Probate Clerk Of
Polk County, Ark. IL. S..
10 1t