The daily star-mirror. (Moscow, Idaho) 1911-1939, 1919-06-10

from the receipt of this notice, this
company shall not consider itself liza
BILE upon the aforesaid bond
Signed and sealed this. $50. day
BY. ..-.-tl. ..........
us
Corporate SeaD
Attest:
.....-.... --........
us. 800.
Sec. XVI. Upon payment to the City
of the deposits and accrued interest
for which security was given, any Sc
curity on deposit, with the City Clerk,
shall be returned to the bank furnish
ing the same, and when securities can
be conveniently segregated, the
amount thereof may be reduced or re-
paid to the bank but only upon such
notice and under such regulations as
the City Depository Board may fix for
the purpose of safeguarding the City's
funds.
Sec. XVII. 1t shall be that the duty
of the City Attorney to institute and
prosecute to final termination all suits
for the recovery of any penalty aris-
ing under the conditions of any
bond required to be given under the
provisions of this ordinance
Sec. XVIII. The City Treasurer
shall deposit and at all times keep on
deposit, subject to the provisions of
this ordinance in designated city de-
positOries. all moneys of the City of
Moscow coming into his hands except
such sum or sums as it may be nee
essary for him to keep in his office
for the ordinary transaction of bust
ness.
Sec XIX. The City Depository
Board shall at the time of designating
any bank as City Depository fix the
maximum which may be on deposit
therein at any time, which shall be
subject to the following restrictions:
Cd 1t shall not exceed ninety per
cent of the market value of the ap-
proved securities or of the approved
bonds or of both such securities and
bonds.
(2) 1t shall not be in excess of
seventy-five per cent of the paid up
capital and unimpaired surplus of the
bank.
Sec. XXX In cases of emergency or
where the amount to be deposited ex-
ceeds the total maximum depository
limits of all city repositories or in
case no bank in the city of Moscow
with the terms of this ordin-
ance, the City Treasurer may, with
the consent of the City Depository
Board, deposit city funds in a bank
outside the city having a paid up cap
ital and unimpaired surplus of not
less than 81 ,000,0 100000 located in a cen
trail reserve city as designated by the
United States Controller of the Cur
rency, subject to such regulations, up
On such conditions and with such Sc
curity as the City Depository Board
shall fix and determine.
Sec. XXI. All deposits in city De-
Dositories shall be subject to payment |
when demanded by the City Treasurer
IN his check.
Sec. XXI Every city Depository
shall be required to pay and shall pay
o the city for the privilege of re-
.eiving and holding any city deposit,
interest at a rate to be fixed by the
Jity Depository Board upon the
mount so deposited computed upon
he average daily balance, as in this
ordinance provided.
The City Depository Board shall, an
Iually, on the last day of each fiscal
ear, or when said day shall follow
n Sunday, then on the day next pre-
eding, fix a uniform rate of interest
0 be paid on such deposits which :
hall not be less than two per cent
er annum.
Sec. XIII. The amount to be paid
V any and all banks under the pro-
isions of this ordinance for the priv
eye of keeping such public funds on
eposit shall be computed on the aver
ge daily balance of the city moneys
ept on deposit Herewith and shall
e credited and paid to the city at Z
lch days as the City Depository
GARD may determinate and such De-
ository shall quarterly on the first
ay of May, August, November and j
ebruary of each year render state
ent in duplicate, to the City Treas
rer and the City Clerk showing the
ent, in duplicate, to the City Treas Z
-er shall require and it is hereby
ade the duty of such depository to
eep accurate accounts of all such
oneys deposited with it, showing the
mount deposited and when deposited,
Id to render at the beginning of each
Id every month, to the City Treas
.er and City Clerk. a statement, in
1plicate, showing the daily balance z
the city moneys held by it during z
a month neyt nreceding and the in q