0009 (City Depository)ORDINANC,E NQ. 9.
AN ORDIF ANCE PROVIDING FOR A CITY DEBOSITARY }SANK, THE METHOD OF SE-
LECTING SAME, WE DUTIES OF SAID BANK, WE METHOD OF APPROVING BILLS
AGAINST WE CITY AND PAYING ¶ E SAME, AND FOR X% OTHER PURPOSES.
BE IT ORDAINED BY '1T E MAYOR AND CITY COUNCIL OF WE CITY CF OKF£ CTT OBE ..,
FLORIDA$
SEC. 1. As soon as practisable after passage and approval of this
e City Council shall designate a bank as a depositary,
wherein all funds and moneys belonging to the City shall be deposited.
Such depositary Bank shall be selected as follows: The Cit f
shall give notice for thirty days in some newspaper published in St.
Lucie Coun4' , or by posting such notice for thirty days in some public
place within the City, that the Council will receive bids on the day
fixed in said notice for such deposits and such bids, shall name the
interest proposed to be paid by said bank on daily balances of funds
sub i ect to payment on demand., and also naming the amount of interest
proposed to b e paid upon funds remaining on deposit for stated periods,
The bank snaking the highest land best bid shall be designated as such
City Depositary Bank. Such depositary bank s1,.all give such bond as
may be fixed by the City Council. The bank first sele ctdd shall con-
tinue to be the City Depositary Bank until a different bank is selected
and qualifies. The City Depositary Basil{ shall be selected at the first
regular meeting in January of each year, or as soon thereafter as practicabl
after bids have been received as herein provided.
SEC. 2. It shall be the duty of the said City Depositary Bank to re-
ceive from the City Tax Collector all funds collected t by the Collector
belonging to the City, giving a receipt for the same, and shall keep a
true and correct account of the sass in a book provided for that purpose.
The said bank shall divide the funds so received into two funds to be
known as a "General Fund" and the "Interest and Sinking Fund." The said
bank shall make a report to the City Council at the first r egu]a r
meeting in each month showing the total amount in each fund at the end
of the preceding calendar month, and shall also show the amount paid out
and received during the prededing calander month. All warrants or checks
drawn by the City Council and paid by said bank shall be returned to the
City Council with the report of said bank. The City Council may require
by r eso lution other and further reports from said bank, and may prescribe
the method and manner of keeping books and making reports by said bank
so far as the same relate to the City business.
SEC. 3. All indebtedness of the City shall be paid by warrants drawn
upon the City Depositary Bank. Such warrants shall be signed by the
ieesidiint of the-City Counci "anecountersigned by the City Clerleand
the corporate seal empressed thereon. No warrants shall be issued
except at a regular or special meeting of the City Council and only
after a majority vote of the members present at such meeting.
SEC. 4. The City Clerk shall be rurnished by the City with a warrant
book containing stub for each warrant therein, and such stub shall bear
a correct record of the warrant issued.
S7C. 5. The City Council may by resolution prescribe the form of warrant
books of account and form of reports to be made by the City Clerk. The
City Clerk shall file with the Council at its first regular meeting in
sash month an itemized report *lowing the number, and amount of each
Warrant_and to Aaom issued of the preceding gala calander month. Prom
the reports made by the Tax Collector the City Depositary Bank and the
CltyClerk, te City Clerk shall make up and present to the City Council
a:monthly report showing the exact balance on hand in each fund, the
amount of outstanding and unpaid warrants and the amount of uncollected
taxos on r eal and personal property.
2;C. 6. This ordinance shall be in full force and effect immediately
upon its passage and approval by the Mayor.
APPROVED JULY 22, 1915.