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HomeMy WebLinkAboutResolution 2006 Depository Banks ~' ---- .~._. - -- -~ -~,.~~.- ~.- .__..,_.,._~ ___ .____ ._'. __r"_.._ __.~_~ '~__._._...........__~r'_~~____.~ -.- - u. - -- .- D@5 COMMISSION RESOLUTION NO. 2006 A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF BOZEMAN, MONTANA, DESIGNATING DEPOSITORY BANKS FOR FUNDS OF THE SAID CITY OF BOZEMAN AND DESIGNATING THOSE EMPLOYEES AND/OR OFFICERS OF THE SAID CITY OF BOZEMAN AUTHORIZED TO SIGN CHECKS AND DRAFTS AGAINST SUCH FUNDS. I WHEREAS, Section 11-807, Subsection 8, Section 16-2618, Subsection I, Revised Codes of Montana, 1947, provide that it is the duty of the City Treasurer thereof, among others, to deposit all public monies in his possession and under his control in such solvent bank or banks located in said city or town as the Commission shall designate, and no others; and WHEREAS, Section 32 of Ordinance 524 of the City of Bozeman, as amended by Section 32 of Ordinance 617 of the City of Bozeman, provides that the Director of public finance as custodian of all of the public monies which may come into his hands shall be governed by the laws of the State of Montana relating to City treasurers, which law of the State of Montana is as above stated; and WHEREAS, Section 11-3267, Subsection 7, R.C.M., 1947 provides that the Director of finance in cities operating under the commission-manager form of government shall be custodian of all money of the municipality and shall keep and preserve such money in the place or places d0ter- mined by ordinance or by the provisions of any law applicable thereto; and WHEREAS, it is necessary under the foregoing provisions of law and ordinance that this city designate depository banks for public funds and desirable that those employees and/or officers of the said City of Bozeman authorized to sign checks and drafts against such funds be designated. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF BOZEMAN: Section 1 That the following banks doing business in the City of Bozeman, County of Gallatin, State of Montana, be, and they are hereby, designated as depositories of all public monies in the I possession of and under the control of the Director of finance of the said City of Bozeman. to-wit: First National Bank in Bozeman, Montana First Security Bank in Bozeman, Montana Montana Bank in Bozeman, Montana Festern Bank in Bozeman, Montana Section 2 --- That no public money shall be deposited by the said director of finance in any other banks than those herein named unless hereafter designated; that the deposits of public monies shall be distributed and pro-rated among all of said banks qualifying therefor, substantially in proportion to the paid-in capital and surplus of each bank, and it shall be the duty of the director of finance to pro-rate such deposits among all the said banks to the end that an equitable distribution of such deposits may be maintained; that said banks, and each of them, receiving said deposits, shall, make a statement quarter-annually of account, under oath, showing all such moneys that have been deposited with said bank during the quarter, the amount of daily balances in dollars and the amount of interest by such bank credited or paid therefor and showing that neither such bank nor any officer thereof, nor any person for it, has paid or given any consideration or emolument whatsoever to the director of finance or to any other person other than the interest provided for herein for or on account of the making of such deposits with any of said banks; that all such deposits shall be subject to withdrawal by the director of finance in such amounts as may be necessary from time to time; that the director of finance shall not be liable for loss on account of any such deposit that may occur through damage by the elements, or for any other cause or reason occasioned through means other than his own neglect, I fraud or dishonorable conduct. Section 3 That no-deposit of public monies shall be made or permitted to remain in any of said banks until saia_-~espective banks shall furnish security to the said City in an amount not less than the total_amou~ of deposits of the said City of Bozeman remaining on deposit in each respective bank, provided, however, that the respective banks shall not be required to furnish security COMMISSION RESOLUTION NO. 2006 ---"-~-- ---~--~ ~. -~-~ - ~~~---~ ~------_._~------- -- - - ------ -- ~~. ~ A._ _... .__....,..~--_. n, _ ,.._~~._, _~_~_~~_~_~ - ~._-_..'---------"-._--~---'----'-'---'--'-~~ - .__~~ _~.,_...__,., _~'r ..~~--,.,.,- -."--. 036 for such portions of said deposits as are guaranteed or insured according to law; that no deposit of public monies shall be made or permitted to remain in any of said banks until the aforementioned security for such deposit shall have been first approved by the City Commission and delivered to the director of finance; that upon acceptance and approval of the afore- mentioned security by the City Commission, a complete minute entry of such acceptance and approval upon the record of their proceedings shall be made; that at least four times a year I the director of finance and the City Commission shall examine said security for the purpose of determining its sufficiency and status and that a record of such examination so had shall be made; that during the tax collecting season of each year, said banks and each of them, shall furnish such additional security in public bonds or other security or indemnifying bonds as the City Commission shall prescribe. Section 4 That checks and drafts of the City of Bozeman drawn upon any or all of the aforementioned banks, and orders for transfer or withdrawal of the funds of the City of Bozeman on deposits in said banks, in whatever form, shall be signed by anyone of the following officers of the said City of Bozeman: Goldie v. Swenson, Assistant Treasurer Donna Daems, Office Clerk and Water Collector Betty A. Cloninger, Clerk and counter-signed by anyone of the following officers of the said City of Bozeman: Grant D. Murie, Director of Finance S. C. Gesko, Jr., City Manager James J. Smith, Assistant City Manager That said banks are hereby authorized and directed to honor and pay any checks, drafts, or orders of transfer and withdrawal of funds of the City of Bozeman so drawn as above set forth, and no others. Section 5 This Resolution shall be in force and effect immediately from and after its passage and adoption. I PASSED AND ADOPTED by the Commission of the City of Bozeman at a regular session thereof held on Wednesday, October II, 1978. ~ ~;~~;; ~ ~ / Mayor ~_.- ATTEST: ~ tY ~,4!/ ERNA V. HARDING Clerk of the City Commission State of Montana ) County of Gallatin: City of Bozeman ) I, Erna V. Harding, Clerk of the Commission of the City of Bozeman do hereby certify that the foregoing Resolution was published at length in the Bozeman Daily Chronicle, a newspaper of general circulation printed and published in said City, in the issue dated October 17, 1978, and due proof of such publication is on file in my office. IN WITNESS WHEREOF I hereunto set my hand and affix the corporate seal I of my office this 23rd day of January, 1979. ~ tY .i14,,~) Clerk of the City Commi: sion COMMISSION RESOLUTION NO. 2006