HomeMy WebLinkAboutResolution 744 Designating Depository Banks and designating who Sign Checks
378
C()MMISSrJ~J flESOLIJ'rIO[J
NO. 7),11
A BESUL upr in
OF 'rrrr: CrIT COhl[MTSSI iN OP 'PHI<:: C I'rV OF' 130 ZE;i\I[A
'1 , tl1)"1ITI[' A~'Jl\ ,
DESIG!V"T'ING
DEPOSI'rORY BANKS FOR FUNDS
OF 'l'HE SAID CI'~Y ')F' Bl)ZEMl,N AND DESIG1'JNI'PJG 'rrTOSE EM-
PLJY'2!~S A1IJD/OF OH'H'IGERS
Ot<' THE SAID CI1'Y OF 30Z!~MA~~ AUTHORIZED '1'0 SIGN CHECKS AND
DRM;1IfS AGAINS'r SUCH FUNDS.
WHEREAS,
Section 11-(307, SubsectL)n 13,
and Section 1~-261d,
Subsection 1, Hevised Codes
of Montana, 19~ 7
, provide that
it is the
duty of the city
treE) surer thereof, acnong others,
to deDosit all publIc monies
in his possessim and under his
contrDl in such sol 'Jent band
I
or banl{s
loceted in said city or town as the
C01mc 11 shall
dffii. gnH t e , and no others; and
Section 32 or Ordinance S2~ of the
City of i3ozemEin,
amenrled b7 Section
'NTfEREAS,
as
32 of Ordinance No.
617 of the City of 130 zeman,
provides thut
the director of public fi-
non.ce as
custodian of
all of the public monies which may corne into h '.8
hands ahll be
fY,overned by the
laws of the
State of Montana relating to City treas1wers, which law
of
the State of Montana
is as above
s ta te ; and
w;.r~r EA S ,
Section 11-3267, Subsection 7,
R. C .1L 1947 provides that
the director of
finance in cities
opera ting lmder the Commis s i~)n-manager form of governrlen
t shall be cus-
todian of all money of
the mlmicipality 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
WT-I'?REAS,
It is neeessary under the
foregoing nrovisions of law and ordinance that
this
citv designate depository
banks for public
funds and desirable thpt
those emploY2es and/or
of'ficers
of the
said City of BOZB'lan authorized to
3 iCn checks and draf'ts against such fmds
be designated.
NOW,
'I' rTEP'~I1"J PE , BE 1'1' PESOL'IED BV 'riTE CITY COMrnSSIJN J}i' THE CI'rY JF'
BO~:~mVlAN:
Section 1.
That
the following banks doing business'in
the City of Bozeman, County
I
of Gallatin, State
of Montana, be,
and they are hereby designated as depositories of all
'jublic monies in
the pos ses s i':)n of and under the
c ontr:)l 0 f the d tree t~)r ;)f finanee of
the said City of Bozeman,
to-wit:
The Comm~rcial National Bank of Bozeman
, Montana
Security Bank and 'rrust Company,
Bozeman, Tfl')(l tana
Gallatin Trust and Savings
BanJ{ , 3azeman,
rVl,)ntana
Section 2.
'rhe t no public money shall
be deposited by the
said director of finance
in any other banks
than those herein named unless hereafter designated;
tho t
the depostts
of publ ic monies
sha 11 be distributed and pro-rated among all
of said banl{s
qu.alifying
therefor, substantially
in pDoporti:)n 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 thst an equitable distribution of
such deposits may be ;(181n-
tained; that
said banks and ench of
them, reueiving said deposits,
shall, make a statement
quarter-annually of account,
under oath, showing all
such moneysthnt have been deposited
wit""L sa ld bank dur in;?,;
the quarter, the amount of daily balances
in (loll ars and the aYIlount
of in~erest by such bank
credited or paid therefor and
showing that neither such bank nor
I
any oF'ficer thereof,
nor any person for
it, has paid or
given any consideration or emolu-
ment whatsoever
to the
director of finance or
to any other person other than thcinterest
provlded for herein Por or on account of the-naklng of such deposits with any of said banks;
that all
such deposits shall be subject to wi thdrawal by the
director of finance in
such
amo unt s as may be
necessary from time to time;
th8t the
director of fln8n~e shall bot be
liable f'or 10., S
on acco1mt of any such deposl t that may occur through damage by
the elements,
or for
any other cause or reason occasloned through :neans
other thHn his arm neglect,
fraud
or dishonorable conduct.
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379
~ection 3.
'rha t no depos it of publ ic monies shall be marle or
perm~tted to remain
in any of said banks until
said resDective banks shall fu.rnish security to the said City
-tn an amount not less than
the total amount of deposits of the said City of Bozeman re-
maining on deposit in eacn
respective bank, prov.cded,
however, thnt the respective banks
8h811 not be requJred to furnish
securi ty for such portions of said despotis as are
I guaranteed or insured
ac'~ording to law; that no de90sit of public monies shall
be made or
permitted to remain in any of saId banks
until the aforementioned security for such deposit
shall hnve been first approved by the City Commissi m and delivered to
the (Urector of
finance;
thpt upon acceptance and approval of the aforementioned secill>ity by the City
Commission,
a complete minute entry of such acceptance and approval upon the record of
thetr proceedings
sha 11 be made; that at least four times a year the director
of finance
and the City Commissi-:>n shall
examine said security for the purpose of determining its
sufficiency and status and
thE.1t a record of such examination so had shall be made: that
durinr; the tax collecting
season of each yerlI', said banks and each oftlle~,
shall furnish
such additional secnrity in
public bonds or other security Or inde~nirylng bonds as
the
City Commission shall prescribe.
Section 4.
ThBt checks and drbfts of the City of Bo',eman drawn upon any or all of
the aforeMentioned banks,
and orders for transfer or withdrawal of the
funds of the City
of Bozenan on deposits
in said banks. in whatever form,
shell De signed by anyone of the
followlng officers of the said
City of Bozeman:
H.
Dean Moore, Cashier and Water Collector
Helen Morrison,
Office Clerk and Assistant Cashier
I and counter-signed by
anyone of the following officers of the said C:tty of Bozeman:
L. G.
Shadoan, Director of Finance
. , Ii'
Henderso~1, C1 ty Tt.anager.
;"1'1. -'-".
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.
T~is Resolution shall be in f'orce and effect immediately
from and after
tts passage an~ adoption.
Passed and adopted by the Commission
of The City of Bozeman at a regular session
thereof held on August 26th,
1953.
Attest:
tut?~
~~
Mayor
Cler of the City Commissi)n
Stnte of Montana
)
County of Galli, tin
) ss
I, L.
G. Slsdoan, Cle I'l{ of' the
Commission of 'fhe City of Bozewm, do hereby certify
thEJt the foregoing Commission
ResolutiJn No. 74L\ was published by ti tle and number in the
Bazempn Daily Chronicle,
a pewspaper of general circulation,
printed and published in
saId City in the
is s ue of A ugua t 2)th, 1953,
and that due proof of 8uch publicRtion is
I on file in my office.
IN/rrNESS WHEREOF I hereunto set my hand afflx the corpornte seal of my office
this 31st day of August, 1953.
cler~/~n
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