Arizona republican. [volume] (Phoenix, Ariz.) 1890-1930, 1911-02-07
MONTHLY MEETING Of
BOARD OF GOVERNORS
Steps Taken for Amending BY Laws
Permitting Designation OF As
ISOLATION Oepositories.

The monthly meeting OF the board Of
governors of the Water Users ds>o-
citation MAS held Yesterday and action
WAS taken i'm respect In Two ur three
important matters. aside from routine
business.
The most important action taken
WIS the passing al a resolution r.
guessing the council of IA" aSSocia-
ton 1" pass a bylaw empowering
The board t. designate repositories OF
association funds Under the present
bylaws th- FUNDS of the JSsocia-
lion are 10 be- received 10y the treas
urer and left solely in his custody.
he may put Them in Il bank. carry
Them IN his pocket "r d" whatever hr
ple3s-s. So long as hr has the money
on hand when % is wanted.
Th- purpos.. OF the bylaw asked
for il in uo s-nce q reflection on The
present or "n amy future treasurer -
custodian of the funds. But il H. the
beginning of seemingly Mise policy
suggested by new conditions
Heretofore The funds ot the assogi-
alton have not been large enough n
amount L. make 10 matter OF great
difference who had possession "f Them
So long as they were safe. Now. how
ever. the association * likely Ia he
come The avenue OF considerable
stream of gold. II is undertaking 4
large construction enterpris. for which
The membership is to br assessed ana
a pretty ldrg, amount uf money is
likely To- be- on hand sometimes for
several months between the time of
collection and the time Of dishurse
ment. Later The same thing may ""-
cur in thu collection of amounts Ia
be later paid To- the government
The protection OF the treasurer first
demands that some place or places
shall be designated in which L. keep
Ihr funds In the next place tho
farmers may often find il necessary
10 secure accommodations al thu
banks 10 meet their assessments II
would be- hardly fair 10 the other
banks 10 have the treasurer dump a
Very large amount Of money into one
institution. 10y simply transferring il
from the other.
The idea was then suggested that
when the treasury is fun the board
should direct proper division Of the
money among the several banks "f
the vale.
Nor is this solely ont ni a desire 10 I
protect the treasurer ard nelp the /
hanks II Is conceived that ay Givid- |
ing To. money a better state ~ local !
financial conditions viii exist the mon |
~ Wall be kept working am the farm !
eTs 5, hu raise 90 viii secure some b-n- |
eft Ii = farmer apples - a Jrtic- /
ular bank for a logn OF good SIZE To- 4
meet lis obligations. he VIII h. Il /
great deal more apt 10 get it II the !
bank knows that within a dan "T 80
th- .non@y VIII be paid right tack tn |
IL bv The treas II tn assoc ton /
Though IL viii ba crAdi.e - To another /
account the bank VIII have it 10 I
work with. And still another reason /
is that if The amount Of thu treasur-
-r's deposit is of any considerable size. /
and il 10 remain OF any considerable |
length Of time the hank will probably |
pay a little interest on it. just As the |
banks pay interest on balances Ia the /
territory and city under similar con- |
dirions In that way the association |
itself will be earning a little some
thing by keeping its treasury balance !
81 work
The matter of fixing up the base
rnent Of the new office building for a .
rest room for the farmers and their
families, as requested ny the council !
a its meeting a few DAYS ago. was
me board yesterday. and the building
committee was instructed TO go ahead
and carry out the idea a. suggested