The Seattle star. [volume] (Seattle, Wash.) 1899-1947, 1913-02-20

FNHFff Fu AMENDMENT NO = IL.
NtHpftri0N and fHpFoNt
20 amend Arflrfe TX IN the CltY Charter
~ fhr eifF ~ aHatfis ny adding thereto a
naa section 60 - hn1Wu a. section
feiatiar 90 ih7 infoal rnont ~ ~ iani
and suhauitfiuF such proposed srisni
menf 20 fhs qualified electors - the cts
a. ths ssasfai municipal election 90 -
sr a. rFaot.yFn ny THE CITY
CorSCtL OF q g CITY 90 SEAT
Thaf Article TX % ,hs city Charter -
amended - adding thereto nee s-riiHH
90 ba kHawn as section -. which ahhi'
section - Whenever 'hs smauai =
cash sn hnud Belonging 60 the gtp y
seattle. tnrIldinE deposits in ~ WIN
banks exceeds surh Nufn - 10 reasonably
sWulfisut 20 meet ~ ne current -
y $50 sua otiigators q thr ei'r anA Z
re fumda dtstftfta ana deere ftwrnfn a.
lthur afrfns the city 10 authorized Go in
vest fefH farnfiF The HHrrss above sHr Z
reasonably saffrirut sum in iha faiii
lrAF Utility and general bonds ard waF
r4hfs - tha cfty. o. - Ns funds depsft
GENTS RI special assessment districts a.
nai o. strsef par and accrued Interest
SUCH bonds or warrants may 10 % In.
sestsa in after theg have been executed
aifhHH before OF after fhrf have been
lazue1 ~ s1id ~ tho city Aarh invest
msnt shau not operate % nay cancel 2.
ln - 90 impair is validity. hut the ci't
shall - deemed ln 90 respects the ifEai
awuur - such bond ~ warrant
aurh rAah may alec - Invested IN bonds
~ az stats - washinEtoa. or ~ 'hr
counties cities ar school districts y she
.uat8 ~ Washington. nr tn me honhH -
tha Unhcd Ftntra Any bonds ~ Vet
rants 80 invested 90 may ~ sold fnF cash
AZ nHs Lees than par and accrued inter
ssf fn accordance 9Th laws ant nrdi
uances profidlnE fut 'hr Issuance 81 sale
~ baaas and fho rfucrHd shall u placed
tn tha city treasury
property whrn cold according 20 law tnr
arffnaarnt special assessments. may -
surttsset and mo city IL authorized 20
Il thn fret person az said sale. Offering
% pay the amnunt duo on each lot treet
81 parcel - Hand o. other prepeTt1 a'ii
according 60 tho statute iu such cass pro-
rfdrH The real property ~ acquired may
- sald for cash. and tho proceeds shall
10 placed In thr riiF treasury Ia order
that such excess - cash on hand may be
inr~sfed IN honds or warrants payable Ia
hole % 10 part from local improvement
HtsfrfrfH o. condemnation districts. the
81 ssassed valuation u the property ha-
condemnation shall 81 tho time - the
purfhasa ~ the city - such bonds ~
warrants exceed The sum assessed fof
~ All commanding special aaaeNaule nt q
taviaH against said property
r.ruut shore Inconsistent with statute
all interest or prom, it@m eng ana 1u
~ a mart % ste general fund. aud such
flpI ahau bear All losses that may re
aalt FROM such iuvrstuenta
mo amount o. working capital In the
s..,s - cash on hand reasonably nrcaH-
aarv 10 meet ail curront rHpeuarH and
lohtirsttans shall be nacortained and de-
tsrmlned from TINE 20 TINE ~ city -
arfpr ard diapnaina of said investments
rEafi - performed by tho Finance Com
r.iftea ~ tho city Council subject Go The
spprarat Of the city Council, unless the
.,.....,,,.rs Of such duties is othcrW SO
rvsviaea hy city ordinance Rules reru-
IattnH the performance % SAID duties
may also hn provided ~ ordinance Al
t1,sa# 0arrnnta. and MI documentary
.,.tas,r.H of titie or rights 10 invested
itr shau DO fn tho custody 81 tho CITY
lg,.rrtrt.iier who shall be liable for the
safe keeping thereon
a. ~ EMAIL direct tho creation and cs-
ltntffshfnant % a municipal banking and
trust department IN tho treasury depart :
,--t IN the city tho requirements and
fn-tt.ya herein authorized shall. "a 20
80 - thev arc not required hy law 10 bo
f,sfformed by other departments OF tho
elty. be part Of ne duties ana func,
,br"rrh said banking and trust depart
Ann IN IT FURTHER RESOLVED
that such amendment D." submitted 60
.aa.tsi-,tton or rejection nj tho most gen
- municipal election 90 DO held In the
Cgsy ~ seattle on tho tth day OF March.
na...s tho city Council tho soth day -
pd,~nher 1918 and signed by me 10
...,, geasion IN authorization or ts pas
sage this 2oth DAY 81 Deeem %, l,lf'
president Of tho city Council.
a. W. CARROLL.
r,tt.. f-,.,ptrofier and eN-officio city Clerk
bate Of first publication January sist