The daily star-mirror. (Moscow, Idaho) 1911-1939, 1919-06-10
ORDINANCE NO. 4sa.

\
payment of its expenses; definin
banks which are eligible as city dc
positories; prohibiting bank t
which certain officials are indebte
J from becoming or remaining a cit
: depository; providing for security 10
city deposits, the character and man
7 ner of their approval and custody
| providing for realizing thereof in cas-
of a failure or refusal of a depositor
to pay over the funds on demand o
the treasurer; the form Of suret.
bonds to secure city deposits; provid
ing for the cancellation Of such bonds
regulating the return or Withdrawal
of security and recovery on bonds
prescribing the duties of the city
treasurer with respect to city money
and the deposit thereof; the amount
and conditions of the deposit of city
moneys; the rate of interest to be pai(
thereof; the method of computing the
same; the duties of the city treasurer
upon receipt of notice of cancella-
ton of bonds; to secure such deposits
and the treasurer's relation of bonds
and the treasurer's responsibility in
case of a loss or insolvency of de-
pository.
Be it ordained by the Mayor and
City Council of the City of Moscow
State of Idaho.
Section |. The Finance Committee
of the Council of the City of Moscow
and the Mayor of the City of Moscow,
are hereby designed as the "City De-
pository Board of the City of Mos
COW" and sitting as such "City Depos-
itory Board" is hereby empowered and
it is hereby made its duty to supervise
the deposit of city moneys and to en-
force the provisions of this ordinance.
Section H. For the purpose of car
rying out the provisions of this ordin-
ance the City Depository Board has,
in addition to other powers and duties
which may hereafter be provided by
ordinance the following general pow
ers and duties:
Cd To designate City Deposition
les.
(2) To require all such City De-
positories to deposit securities or to
give bonds, for the security of City
funds deposited with them and the in
terest thereon in accordance with the
provisions of this ordinance.
go To approve or disapprove Sc
curities and bonds rendered as Sc
curities for city deposits.
(4) To investigate or cause to be
investigated at least once in every six
months the character and sufficiency
of all bonds and securities put up as
security for city deposits and to re-
quire the same to be renewed or new
or additional security to be put up,
whenever, in it's Judgment the safety
of any deposit of city moneys under
this ordinance requires it and to
cause such deposit to be withdrawn
unless such new or additional security
be given.
90 To fix the maximum depos-
tory limit of each City Depository.
60 To demand and receive reports
from the City Treasurer, City Clerk
and any other officer, Board or Com
mittee, and from the several City De-
positories.
CD To investigate or inspect or
cause to be investigated or inspected !
any City office or any City Depository ,
Cor the purpose of determining the !
condition of, and protecting city
funds.
(S) To make rules and regulations
not inconsistent with the laws of the
State of Idaho or this ordinance in all
matters relating to the depositing of
city moneys, for the guidance of the
City Treasurer City Clerk and other
city officers and of City repositories.
co. And generally to supervise and
safeguard the deposit of city moneys
Ind to do and perform all other
hings and acts necessary to carry out
he foregoing powers and duties.
Sec Ill The City Depository
Board shall meet in regular session {
uarterly at sometime during the first s
week of May, August, November and {
'ebruary of each year, and at such i
Their times as the business of the city c
nd the safeguarding of the city's a
lnds shall require it. a
Sec ". Any expenses in carrying
ut the provisions of this ordinance S
hall be paid out of the general fund il
{ the city. o
Sec. V. The City Depository Board, o
: any person authorized in writing Il
Y it, may, during business hours, in s.
lie presence of the City Treasurer in n
)ect and examine the books of ac- a
,unts of the office of the said Treas s;
'er and all contracts writings, secur- il
les and all other papers belonging to m
e city or pertaining to the business IL
ereof, held by the Treasurer, and oil
ay inspect and count the moneys re
longing to the City and the several
nds thereof in the custody of the ST
'easurer, and it is hereby made the al
ty of the City Treasurer to furnish til
the reasonable facilities for the W
rpose. L.
And the City Depository Board or re
Y person authorized in writing, by &C
may, likewise, during business of
urs, in the presence of the City tn
ERIK, inspect and examine the books tn
d accounts in the office of the City ce
ERIK and all writings, contracts, Sc nj
rites, bonds and all other papers TO
longing to the city or pertaining to of
, business thereof, in the custody wi
the City Clerk, and it is hereby to
de the duty of the City Clerk to tic
'nish all reasonable facilities for on
purpose. Sc
IND it is hereby made the duty of tn
City Depository Board at its reg bill
r quarterly session to make the DO
pections provided in this section. of
Sec. VI. Any National Bank or any me
tie Bank or Trust Company doing tn,