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3359 Duties of City TreasurerORDINANCE BO. 3359 r AN ORDINANCE relating to the bond and defining the duties of the City Treasurer; providing for the depositing of the public funds of the City of Salina; designating the depositories of such funds, and repealing Section 6 of Ordinance No. 280, as amended by Section 1 of Ordinance 1180, Section 9 of Ordinance No. 280, and Section 1 of Ordinance No. 2399, being Sections 6-205, 6-208 and 4=101-of.the Re- vised Ordinances 1925, and any other ordinances or parts thereof in conflict with the provisions of this ordinance. BE IT ORDAINED by the Board of `'ommissioners of the City of Salina, u Kansas: Section 1. The City Treasurer shall give a good and sufficient Surety Company bond to the City, in a sum of not less i than $50,000.00, the cost of which shall be borne by the City, and which before its acceptance shall be approved as to form, 'SIIDunt a surety, h amount, d n e y, by the Board of Commissioners of the City of Salina. The suretyon such bond shall be an incorporated surety P Y ii company, to do burines s in the State of Kansas and , such bond shall be conditioned for the faithful discharge of the duties of such treasurer, and that he shall safely keep all public moneys or securities intrusted to his care, and save such city free and harmless from all loss caused by neglect of duty or malfeasenee in office. The Board of Commissioners shall require the Treasurer to give a new bond whenever in their opinion the existing bond is insufficient either as to amount or surety or otherwise; and whenever such new bond is required he shall perform no official act until such bond shall be given and approved in the manner aforesaid. Section 2. It shall be the duty of the City Treasurer to receive and keep all money belonging to the City and which shall have been received by him from any source whatsoever, and to pay out the same only upon warrants duly authorized by an appropriation ordinance adopted by the Board of Commissioners, Y and issued b the Director of Finance and countersigned by the City Manager. For all moneys received by him the City Treasurer shall give duplicate re - i eeipts, one to the party paging such money into the treasury and one to the City Clerk. Said Treasurer shall render a full and correct itemized statement of all receipts and payments to the o s Board of Commissioners at their first regular meeting in each month and at such other times as may q Y be required b said Board. d. Section 3. The City Treasurer shall make deposits daily of all such sums of money as shall be received by him from all sources whatsoever, to his credit as treasurer of such city, in accounts subject to check in one or more responsible banking l institutions, to be selected by the Board of Commissioners, which will pay the highest rate of interest on the funds so deposited, which interest shall accure to the benefit of the City, and any such banking institution before such deposit is made therein shall be required to enter into a contract with said Board to pay such City not less than two percent interest per annum, which shall be payable at the end of each month and shall be based on the average daily balances for the month, and the City Treasurer shall report the amount of interest collected in his monthly statement following such collection; provided that whenever there are funds in the hands of the City Treasurer which are not needed for current expenses, he may when authorized by the Board of Commissioners deposit the same in any such banking institutions on time certificates of deposit at the highest rate of interest obtain- able on deposits of such character. Section 4. Before the City Treasurer shall deposit any money in any such banking institution, such bank shall execute and deliver to the City, a good and sufficient surety company bond, to be approved as to form, amount, and surety by the Board of Commissioners, and the surety on which shall be an incorporated surety company authorized to do business in the State of Kansas conditioned that such bank will safely keep and account for and pay over said money promptly upon de- mand or upon the presentation of any certificate of deposit represent- ing funds deposited as herein authorized and no such bond shall be approved which does not expressly cover certificates of deposit as well as de- posits subject to check; provided that in lieu of such surety bond, any such bank may deposit with the City Treasurer, as security for the deposit of money belonging to the city, bonds of the United States, or of the State of Kansas, or of some County, school district, or municipality of the State of Kansas, or other securities authorized by law, which securities of any kind so deposited shall be first approved by the Board of Commissioners of said city. When any bonds or other securities are so deposited by any bank with the City Treasurer as security for the.,deposit of funds of the City in such bank, the City Treasurer shall be responsible under his official bond for the safe keeping of such bonds or other securities, and such bonds or other securities shall be by him deposited in a burglar proof vault of a responsible safe deposit company or bank equipped with adequate modern facilities for the safe keeping of securities, located within the State of Kansas, under contract with such safe deposit company or bank that such bonds may be withdrawn or coupons detached only by the joint consent of the owner thereof and the City Treasurer, except in case 1 11 the owner thereof has defaulted in its obligation to pay any part of the deposit secured by such bonds, but no such bonds or dither securities belonging to a depository bank shall be deposited for 11 safe keeping in any safe deposit vault owned or controlled by such depository. Section 5. The City Treasurer shall not deposit any money of the City of Salina in any bank in excess of the amount of the surety bond of such bank then in effect, or in excess of the amount of bonds or other securities deposited with him by such bank as collateral security for such deposit, or if the money deposited be secured by both a surety bond and collateral, then in excess of the aggregate amount of the bond and collateral. If any bank having money of the Uity on deposit shall fail to pay such money upon proper demand being made therefor, the City Treasurer shall after Qr cc?le ting From the surety on.the bond securing such deposit the .j amount for which it is liable under such bond, proceed to sell any bonds or securities of such bank deposited with him as collateral security, or such part thereof as may be necessary, at public sale upon ten days notice thereof given in the official City paper, and apply the proceeds of such sale to the payment of the amount due to him by reason of such deposit, and in such case the City Treasurer shall have authority to withdraw such bonds from the safe deposit vault where they are deposited without the consent of the owner, upon furnishing proof to the person holding such bonds for safe keeping that the owner has defaulted in the payment of a deposit due to the.City of Salina, and if any such bank shall secure such deposits by the pledge 6f such bonds or other securities, and also by a surety company bond, the surety on such surety bond shall first be held liable to the extent of such bond for any money due the City from such bank, and any collateral deposited in addition thereto shall be considered as supplemental to such surety bond and sold after the liability of the surety has been exhausted, Section 6._ When this ordinance shall have taken effect, it shall become a part of the contract with any bank depositing collateral securityto secure h deposits C the e si s t of the it and a 0 P f ys any surety bond given to secure such deposits, and of the City Treasurer°s bond, whether expressly mentioned therein or not. `3 at th That Section 7 h e following named Canking institutions located in the City of Salinas s Kansas: to -wit: The Planters State Bank, The Reserve -State Bank, The Farmers National Bank 3 and the National Bank of 'merica are hereby designated as depositories of the funds of the City of Salina, but no funds shall be deposited by the City Treasurer in any such bank until it shall have given a surety company bond or deposited collateral security as herein pro- vided for, or both, in amounts sufficient to cover any deposit of any I character made in such bank; provided that if the banks above named shall not have deposited or given such security as herein required, in an aggregate amount sufficient to cover all of the money of the City in the hands of the City Treasurer, he may deposit any such excess in any banking institution in the State of Kansas outside of the City of Salina, which may be designated by the board of Com - i missioners and which will furnish a surety bond or deposit collateral security as in this ordinance authorized, in an amount 'sufficient to cover any such deposit; and provided further than w=henever bonds of the City of Salina are sold by the board of Commissioners to any bank- ing or financial institution either within or without the State of Kansas, it may contract with the purchaser of such bonds that the proceeds thereof may remain on deposit with such banking institution subject to check or draft of the City, upon its depositing with the City Treasurer collateral security of the same kind and in the same manner as authorized in this ordinance for other deposits, in an I amount sufficient to secure the amount left in its hands, and such collateral security shall be kept by the City Treasurer as in this ordinance provided. Section 8. 44hen any bank shall have deposited collateral security to secure a deposit of any city money it may on or after the first of any month whenever the balance of the city! s deposit with it is reduced, reduce the amount o c f the securitydeposited b p y it as collateral, and secure back from the City Treasurer, the amount of such bonds or securities deposited by it in excess of the amount f of.money remaining on deposit at the end of the previous month, and the City Treasurer is authorized to deliver to any such bank, bonds held by him as security in excess of the amount of such balance on deposit in such bank; but no additional deposits of money shall be made in such bank in excess of the amount of security held by the City Treasurer; and provided further, that any bank having deposited such collateral security may at any time substitute for the same other securities, to be approved by the :Board of Commissioners, of an equal or greater value, and may make successive substitutions thereof under the same conditions all of such substituted collateral llateral to be held, withdrawn or disposed of under the same conditions as herein C 1 provided for in the case of securities originally deposited. Section 9. When any collateral security is deposited with him, the vity Treasurer shall execute triplicate receipts, describing fully such security, and deliver one copy to the bank from whom the security is received, and file one with the City CJerk, a nd retain the other. When any such security is returned to any bank, either withdrawn or substituted, he shall take duplicate receipts therefor: retaining one himself and filing one in the office of the City `'lerk, and he shall keep a record of all such collateral by him received from or returned to any bank. Section 10. `hat Section 6 of Ordinance No. 280, as amended by Section 1 of Ordinance No. 1180, and Section 9 of Ordinance No. 380, being Sections 8(=205 and 6-248 of the Rev* wised Ordinances 1925, and any other ordinances or parts of ordinances with which any of."the provisions of this ordinance are specifically in vonflict, shall be and the same are hereby repealed. Section 11. This ordinance shall take effect and be in force from and after its publication in the official city paper. Introduced April 4th, 1927 Passed April 11th, 1927 Guar T. Helvering -ayor` Attest: Chas, E. Banker CItyCer STATE OF KANSAS ) COUNTY OF SALINE ss I, Chas. E. Banker, City Clerk of the City of Salina, Kansas, do hereby certify that the above and foregoing is a true and correct copy of Ordinance No. 3359 passed and approved by the Board of Commissioners of the City of Salina April 11th, 1927 and a record of the vote on its final adoption is found on page )--,13 Journal No. 11. City Clerk (Published in The Salina Journal 1927) ORDINANCE N0. 359 An Ordinance relating to the bond and defining the duties of the City `treasurer; providing for the depositing of the public funds of the City of Salina; designating the depositories of such funds, and repealing Section 6 of Ordinance No. 280, as amended by Section 1 of Ordinance 1180, Section 9 of Ordinance No. 280, and Section 1 of Ordinance No. 2399, being Sections 6-,205, 6-208 and 4-101 of the Revised Ordinances 1925, and any other ordinances or parts thereof in conflict with the rorovisions of this ordinance. BE IT ORDAINED by the Board of Commissioners of tine City of Salina, Kansas: SECTION 1. The City Treasurer shall give a good and sufficient Surety Company bond to the City, in a sum of not less than ' 50,000.00 the cost of which shall be bornVoy the City, and which before its accept- ance shall be approved as to form, amount, and surety, by the Board of Commissioners of the City of Salina. The surety on such bond shall be an incoroo-rated surety company, authorized to do business in the State of Kansas and such bond shall be conditioned for the faithful discharge of the duties of such treasurer, and that he shall safely veep all public moneys or securities intrusted to his care, and save such. city free and harmless from all loss caused by neglect of duty or mal- feasence in office. the Board of Commissioners erl all require the Treasur- er to give anew bond wHeiiever in their opin,s:+ le existing bond is insufficient either as to amount or surety or otherwise; and whenever such new bond is required he shall perform no official act until such bond shall be given and approved in the manner aforesaid. SECTION 2. It shall be the duty of the City Treasurer to receive and keep all money belonging to the City and which shall ;have been re- ceived by hili from any source --whatsoever, and to pay out the same only upon varrants duly authorized by an appropriation ordinance adopted by the Board of Commissioners, and issued by the Director of ;Iinance and countersigneu b„ the City i,2.nanger. or all moneys received by him the City treasurer shall `ive duplicate receipts, one to the party paying such money into the treasury and one to the City Clerk. Said Treasurer shall render a full and correct itemized statement of all receipts, and payments to the Boara of Commissioners at their first regular meeting tri each month and at such other times as(.*y be required 2. by said Board. RECTION 3. The City Treasurer shall make deposits daily of all such sums of money as shall be received by him from all sources whatsoever, to his credit as treasurer of such city, in accounts subject to check in one or more responsible banking institutions, to be selected by the Board of Commissioners, which will pay the highest rate of interest on the funds so deoosited, which interest shall accrue to the benefit of the City, and any such banking institution before such deposit is made therein shall be recuired to enter i:tto a contract with said Board to paA7succi City not Less than two percent interest per annum, which shall be payable at the end of each month and shall be based on the average daily balances for the month, and the City Treasurer shall report the amount of interest collected in his monthly statement follow - ink such collection; provided that whenever mere are funds in the hands of the City Treasurer which are not needed for current expenses, he may when authorized by the Board of Commissioners deposit the same in any such banking institutions on time certificates of deposit at the highest rate of interest obtainable on deposits of such character. SECTION 4. Before the City Treasurer shall deposit any money in any such banking institution, such bank shall execute and deliver to the City, a good and sufficient surety company bond, to be approved as to form, amount, and surety by the Board of Commissioners, and the surety on which shall be an incorporated surety company authorized to do busi- ness in the State of Kansas conditioned that such bank will safely keep and account for and pay over said money promptly upon demand or upon the presentation of any certificate of deposit representing funds deposited as herein authorized and no such bond shall be approved which does not expressly cover certificates of deposit as Faell as deposits subject to check; provided that in lieu of such surety bond, any such bank may deposit with the City Treasurer, as security for the deposit of money belonging to the city, bonds of the United States, or of the State of Kansas, or of some County, school district; or municipality of the State of Kansas, or other securities authorized by law, which securities of any W 3. 0' kind so deposited shall be first approved by the Board of Commissioners of said city. when any bonds or other securities are so deposited by any bank with the City Treasurer as security for the deposit of funds of the City in such bank, the City Treasurer shall be responsible under his official bond for the safe keeping of such bonds or other securities, and such bonds or other securities shall be by him deposited in a bur- glar proof vault of a responsible safe deposit company or bank ecuip�ed with adeauate modern facilities for the safe keeping of securities, located within the State of ransas, under contract with such safe de- posit company or bank that such bonds may be withdrawn or"coupons de - Cached only by the joint consent of the owner thereof and the City Treasurer, except in case the owner thereof has defaulted in its obliga- tion to pay any part of the deposit secured by such bonds, but no such bonds or other securities belonging to a depository bank shall be deposited for safe keening in any safe deposit vault owned or controlled by such depository. SECTION 5. The City Treasurer shall not deposit any money of the City of Salina in any bank in excess of the amount of the surety bond of such bank then.in effect, or in excess of the amount of bonds or other securities deposited with him by such bank as collateral security for such deposit, or if the money deposited be secured by both a surety bond and collateral, then in excess of the aggregate amount of the bond and collateral. If any bank having money of the City on deposit shall fail to pay such money upon proper demand being made therefor, the City Treasurer shall after collecting from the surety on the bond securing such deposit the amount for which it is liable under such bond, proceed to sell any bonds or securities of such bank deposited with him as collateral security, or such part thereof as may be necessary, at public sale upon ten days notice thereof given in the official City paper, and apply the proceeds of such sale to the payment of the amount due to him by reason of such deposit, and in such case the City Treasur- er shall have authority to withdraw such bonds from the safe deposit vault where they are deposited without the consent of the owner, upon 1 .M furnishing proof to the person holding such bgnds for safe keeping that the owner has defaulted in the payment of a deposit due to the City of Salina, and if any such bank shall,secure such deposits by the pledge of such bonds or other securities, and aloo by a surety company bond, the surety on such surety bond shall first be field liable to the extent of such bond for any money due the City from such bank, and any collater- al deposited in addition thereto shall be considered as supplemental to such surety bond and sold after the liability of the surety has been exhausted. SECTION 6. When this ordinance shall have taken effect, it shall be- come a part of the contract with any bank depositing collateral securi- ty to secure the deposits of the City., and of any surety bond given to secure such deposits, and of the City Treasurer's bond, whether ex- pressly mentioned therein or not. SECTIO 7. 11hat the following named banking institutions located in the City of Salina, Kansas, to -wit: The Planters State Bank, The reserve State Bank, The Farmers National Bank and the National Bank of America are hereby designated as depositories of the funds of the City o1 Salina, but no funds shall be deposited by the City Treasurer in any such bank until it shall have given a surety company bond or deposited collateral security as herein provided for, or both, in amounts sufficient to cover any deposit of any character made in such bank; provided that if the batiks above named shall not have deposited or .given such security as'herein required, in an aggregate amount sufficient to coverall of the moneyo of the City in the hands of the City Treasurer, he may deposit any such excess in any banking insitution in the State of Kansas outside of the City o:L Salina, which may be designated by the Board of Commissioners and which will furnish a surety bond or deposit collateral security as in this ordinance authorized, in an amount sufficient to cover any such deposit; and provided further than whenever'ends of the City of Salina 24 are sold by the .Board of Commissioners to any banking or financial in- stitution either within or without the State of Kansas, it may contract 5. with the purchaser of such bonds that the proceeds thereof may remain on deposit with such banking institution subject to check or draft of the City, upon its depositing tsith the City Treasurer collateral securi- ty of the same king and in the same manner as authorized in this ordina:ce for other deposits, in an amount sufficient to secure the amount left in its hands, and such collateral secu.rity shall be kept by the City Treasurer as in this ordinance provided. SECTION 8. Vhen any ban- shall have deposited collateral security to secure a deposit of any city money it may on or after the first of any month whenever the balance of the city's deposit with it is reduced, reduce the amount of the security deposited by it as collateral, and secure back from the City Treasurer, the amount of such bonds or securities deposited by it in excess of the amount of money remaining on deposit at the and of the previous month, and the City Treasurer is authorized to deliver to any such bank, bonds held by him as security in excess of the amount of such balance on deposit in such balk; but no additional deposits of money shall be made in such bank in excess of the amount of security held by the City Treasurer; and provided further, that any bar_ki.having deposited such collateral security may at any time substitute for the same other securities, to be approved by the Board of Commissioners, of an equal or greater value, and may make successive substitutions thereof under the same conditions, all of such aubstituted collateral sitdLl be held, injithdrawn or disposed of under the same conditions as herein l_orovided for in the case of securities originally deposited. S.CTION 9. 'vtihen any collateral security is deposited with him, the City '.Preasurer shall execute triplicate receipts, describing fully such security, and deliver one copy to the bank from whom the security is received, and file one with the City clerk, and retain the other. when any such security- is returned,to any bank, either tdthdraxvn or substituted, he shall take 6iaplicate receipts therefor, retaining one himself and filing one in the office of the City Clerk, and he shall keep a record of all such collateral by him received from or returned to any bank. I 6 . SECTION 10. That Section 6 of Ordinance T,lo. 280, as amended by Section 1 of Ordinance No. 1180, and Section 9 of Ordinance No. 380, beinE Sections 6-205 and 6-208 of the 3evised Ordinances 1925, and any other ordinances or =parts of ordinances with which any of the pro- visiones of this ordinance are specifically in conflict, shall be and the same are hereby repealed. SECTION 11. -This ordinance shall take effect and be in force from and after its publication in the official city paper. Introduced April 4th 1927. Passed April 11th 1927. r LayorZ:�— At'test:�c//�`/fir c/ City Clerk