HomeMy WebLinkAboutResolution 1464 Designating Depository Banks - 1971
189
. ~~
COMHISS ION RESOLUTION NO. 1464 ..~<~ ~
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF BOZEMAN, MONTANA, DESIG- "'-.-..~~>-""<<Z
'" "
NATING DEPOSITORY BANKS FOR FUNDS OF THE SAID CITY OF BOZEMAN AND DESIGNAT- ~.
ING THOSE EMPLOYEES AND/OR OFFICERS OF THE SAID CITY OF BOZEMAN AUTHORIZED
TO SIGN CHECKS AND DRAFTS AGAINST SUCH FUNDS.
-Jrl.*~..,'.*******
WHEREAS, Section 11-807, Subsection 8, and Section 16-2618, Subsection I, Revised Codes of
I 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 Council shall designate, and no others; and
WHEREAS, Section 32 of Ordinance 524 of the City of Bozeman, as amended
by Section 32 of Ord-
inance 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 determined by ordinance
or by the provisions of any law applicable thereto; and
HHEREAS, 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.
Nrn~,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 possession
of and under the control of the director of finance of the said City of Bozeman,
to-wi t:
First National Bank of Bozeman, Montana
Gallatin Trust and Savings Bank of Bozeman,
Montana
Security Bank and Trust Company of Bozeman,
Montana
I Western Bank of Bozeman, 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 ~aintained; that said banks, and each of them,
receiving said deposits, shall, ~ake
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 with-
drawal by the director of finance in such amounts as may be necessary from time to time;
tha t 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, fraud or dishonorable conduct.
Section 3
That no depost of public monies shall be made or permitted to remain in any of said banks until
said respective banks shall furnish security to the said City in an amount not less
than the total
I amount of deposi ts of the said City of Bozeman remaining on deposi t in each respec tive bank, provided,
however, that the respective banks shall not be required
to furnish security 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
shallhave been firs t approved by the Ci ty Commission and delivered to
the director of finance; that
upon acceptance and approval of the aforementioned security by the City Commission, a complete minute
entry of such acceptance and approval upon the record of their proceedings shall be made;
tha tat
least four times a year the director of finance and the City Commission shall examine said security
CO~1ISSION RESOLUTION NO. 11+ 6!}
-.....
190
jng
for the purpose of determin/ 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.
Sec tion II
That checks and drafts of the City of Bozeman drawn upon any or all of the aforementioned banks,
and orders for transfer or \vithdra\val of the funds of the City of Bozeman on deposits in said banks,
in whatever form, shall be sign~d by anyone of the following officers of the said City of Bozeman:
I
R. R. Bassett, Cashier and Water Collector
Donna M. Daems, Office Clerk and Assistant
Water Collector
and counter-signed by anyone of the following officers of the said City of Bozeman.
J. W. Smith, Director of Finance
Harold A. Fryslie, City Manager
Robert F. Keyes, Ass't. City Manager
That said banks are hereby authorized and directed to honor and pay any checks, drafts or
orders of transfer and \vithdrawa1 of funds of the City of Bozeman so drS\\In as ahove set forth, and
no others
Sec tion 5
This Resolution shall be in force and effect immediately from and after its passage and
adoption.
PASSED AND ADOPTED BY THE COMMISSION of the City of Bozema
on 21 April 1971.
ATTEST:
City of Bozeman )
I
County of Gallatin:
State of Montana )
I, Erna V. Harding, Clerk of the City Commission of The City of Bozeman, do
hereby certify, that the foregoing Resolution No.
1464 was published by title
and number in the Bozeman Daily Chronicle, a newspaper of general circulation
printed and published in said City in the issue of the 26th day of April, 1971,
and due proof of such is on file in my office.
IN HITNESS UHEREOF I hereunto set my hand and affix the corporate seal of my
hand and affix the corporate seal of my office this 27th day of April,
1971.
s;? / .' . /./ Z"'. L
(f.' ""__' ,,;1".:.-,,<.1' I" /,. ;"L/' <.-,,-.,,:'
Erna V. Harding, ~
Clerk of the City Commission
I
COMMISS ION RESOLUTION NO. l46L~
~.._.- -- m_ _
.-..- .. ..- .-....-
.n ..n