HomeMy WebLinkAbout1975-003 City TreasurerRESOLUTION NO. 3 - 75
WHEREAS Ordinance No. 144 of the City of Chubbuck, Idaho,
provides that funds belonging to the City which come into the
possession of the City Treasurer shall be deposited in one or
more "designated depositories" as defined and regulated by Title
57, Chapter 1 of the Idaho Code; and
WHEREAS the City Council is required to identify such desig-
nated depositories from time to time as they come into existence
or become available for deposit of funds; and
WHEREAS the City Council may authorize the City Treasurer
to make certain additional investments permitted by Idaho Code
section 50-1013; and
WHEREAS it appears to the satisfaction of the City Council
that the Idaho Bank & Trust Co., Chubbuck Branch, is a "designated
depository" within the meaning of Title 57, Chapter 1 of the
Idaho Code;
THEREFORE, BE IT RESOLVED:
1o That the City Treasurer deposit funds belonging to the
City which come into her possession in the Idaho Bank & Trust Co.,.
Chubbuck Branch.
2. That the City Treasurer is hereby authorized, upon advance
disclosure of contemplated investments to the City Council, to
invest City ~unds in her possession in securities of the United
States government, or of the state of Idaho, time certificates
of deposit of public depositories (subject to the restrictions
imposed by ~tt~e~57.,'Chapter 1 of the Idaho Code), county bonds,
highway bonds, revenue bonds issued under the Revenue Bond Act,
or in local improvement district bonds, or in city coupon bonds
provided for under section 50-1019 of the Idaho Code.
PASSED BY THE MAYOR AND COUNCIL OF THE CITY OF CHUBBUCK,
IDAHO, this llth day of March, 1975.
ATTEST:
City Clerk
6Mayor