HomeMy WebLinkAboutORD 0248 '� ,��"y s REfiQ FfRSY iif�E
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ORDIS� :1 ?'IC € TdO. �
r1ItT OP.DII�T�31'TCE P�QVIDIT�G FOF: '_"L-r� D:SIG���:.'IOPT �3v A'HI; CI':.'3'
TREgSUK.;R OF �'H� CI'''y'Y OF R�:iV1C?ld� ;`11;�H�T.iyG"_'OI:T OF O:tL'' OF. �;ORI: ���.�KS IIST
KI�TG COUlVr1'�`.�, ��aIiwltGiO�, �S �'I� DF.POSI�':PY 0� J�POSI�'�IES OP fl�OtTI�S
RE�UIPED �'0 B� I',E?'1' BY S�iD T��SUR�i :�TD �.'nQ?T�DT1?G FOR TH� CIVITTG
OF u��;;;U��`"E SUR��I BY SLTGH B�1itK OR B.�1lVri�S SO DLSIGiT���ED �S 1�O��S��ID�
1ffi: CIiY COUTTCI� 0�+` y'Hi; CITY' 0�' R:)I1'.�'O�li :'1:;�+�id��O�T DU O.D1�IN
AS �O�LO;�S:
Sectian I. mh�,t �ithin thir��T (30) d�s after the pass��er
approval �nd le�wl public�.tion af this Or�ina�ce, i� sh�ll be the
duty of the Cit� �'reasurer of �he Cit;� of Rcnto:�, r�a�h�n��an to dEs--
ignate one �l) or nors b€�?:s in Kin.� CountdT, ,��.�hin�ton as depo�it€�ry
or depositaries of �onies required to be kept b;; s�.3�. ritJ '"rsasurer
and a,nnua113T her�after at �he be�inning o� the fisca� �ear it sh�,11
be the duty of �he City �'reasnre� to co�p2;� r.i��� the �rovis�ons here-�
of. Such dcsi�;na+ion yhall bs in r�riting an� si�;ned b� the Cit�*
Treasurer €�� delivered ta tho �ity Cler� of s�:.id Ci��r of Ren�an,
1�ashin�ton,
Section :I. Befare any such desi�natian shall entitle the
� t�ie b€3nk or b anks
eity tre�,surer to r�ake deposits in ;ueh b�nkor banl:s�so aesi�;nated,
shall ��ithin ten (10) da�s 3f't@?^ the s•�e is filed s�ith the Ci��
Clerk, file s;rith �he CitvT CZerL of the C�t�; o �F Re��on, ;��,sh�n�ton a
suret;� bond to said City of �tenton in the r�.�.:�ir�un ar�o2znt of c�eposits
desi�na��d b;� Ua:�d trer�surer �o be ca,rricd in sucr. b��� ar banks, or
in Iieu therEof shall depos�t rrit� zhe �it� trewsurer good and s-�ffi�..
ier�t municil��.l, school dis�ri ct, count�- or sta�e ���ds, or evarrants, or
United S�ates bon�s, or loca3 i�provem��t bonds, or �����t�, or �ublic
utili-�� bonds, or warrants issv,�d by or un�ier autho-rity o� an;� �unic�-
ipality o-� th�e Sta,te of �'lashing�on upon t�,hich in�eresf or principal is
no� in de��.ult at the ti�e o-� such depo:it, o� �-,s� r.:;c�t�����E r�.��re-.:,w?
,�2�,
bon�s lis�ed on IIecr York stocl� eQchange, condi�t�.onEd �ar +�ie pro�pt
payment ttiereof on checks dul� dra,��vn b� th�treasurer, vrhich surety
bonds or security �hall be �.pproved b�� th� �a�or an� Cit�* Clerk of
the City of Rento�, ��a�hin�ton, �.rrl such ban��s sh�.11 �.lso at thE ��e
tirr�e file �.i�I, th�e sa�d Cit�r Cl�rk u co:���^wct :-ri�:: `he Cit� o-� Renton
�he re in such b ank shall agre e to pa� no� �as u �:�an �iA (? 1 ;��� cen�um
on t1� avera;e dui��r bal€.�ces t.�ere such bal���ces exceed One '"housand
(�1000.00; Dolla.rs of all municipal funds l�ept bJ �uc�i treasurer in
said bank �hile acting as such cleposi�ar�; snch p�,�,�nts to be r�ads
monthly �o ilaid Cit� o� Renton ��hile sai�. clepo�its continue in said
deposit�zry; such t�ontract\sha11 rnn to *he Cit� o-� Renton �.�.d b�' in
such �orn as s�ll b� approved bJ the Cit� ^re�:.�u..�er, L�llaa�or and �ity
Atto rne�.
Section III. mhis Ordin�nce �h�11 be in ��11 -�oree ��
effect five �5) da,�� fron �,nd after its pw�s�e, �.t��raval �:rxi lega3
public�tion. , �, rv�
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�'assed thi� ',���'� da� of �> �. 1911.
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l�pproved �rlis � da� o f, r �. D. 1911,
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