Ordinance - 2023 - 894 - Depository For City Funds - 01/24/2023 ORDINANCE NO. 894
AN ORDINANCE OF THE CITY OF EAGLE, ADA COUNTY IDAHO, AMENDING TITLE
1, "ADMINISTRATIVE", CHAPTER 7 "MUNICIPAL FINANCES", SECTION 1
"DEPOSITORY FOR CITY FUNDS", PROVIDING FOR CODIFICATION; AND
PROVIDING AN EFFECTIVE DATE.
WHEREAS, the City of Eagle, Idaho, is a municipal corporation organized and operating
under the laws of the State of Idaho; and
WHEREAS, the City of Eagle, Idaho, seeks to establish depositories for City Funds; and
NOW, THEREFORE, BE IT ORDAINED BY THE MAYOR AND CITY COUNCIL OF
THE CITY OF EAGLE, Ada County, Idaho;
Section 1: That Title 1, Chapter 7, Section 1 "Depository For City Funds" be and is
hereby amended, in part, to read as follows with underline text to be added and strike-
through text to be deleted:
1-7-1: AUTHORIZED DEPOSITORY DEPOSITORIES FOR CITY FUNDS:
Chet InteFstate Bank as hereby designated a6 the dene 6iteFy fer the
A. Designation: ,�,rR�u�-�.,�„r,�-,�����„��� ...,r...,...,•, ..,• the
City. Pursuant to the provisions of Idaho Code 50-1013, Tthe City Treasurer is
hereby ordered, required and directed to keep monies belonging to or in the care of
the City GOFFIiRg into hffi6iheF hands and onto the hands of the Said Gity in the abeve
flanged following depes+tey depositories: any federally insured banking institution
located within the City Limits of the City of Eagle or the Idaho State Treasurer's
Office (Local Government Investment Pool) as so authorized by resolution of the
Mayor and City Council.
B. Depository Collateralization: Any federally insured banking institution chosen by the
City shall fully collateralize all amounts over the established FDIC limit.
Section 2: If any part of this ordinance shall be held unconstitutional or void, such part
shall be deemed separable and its invalidity shall not affect the remaining parts of the
ordinance.
Section 3: The City Clerk is instructed to immediately forward this ordinance to the
codifier of the official municipal code for proper revision of the code.
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KXOUNCII.Draft Ordinances\Ordinance 894,Amending Title 1 Municipal Funds-Draft(12-27-22).docx
Section 4: This ordinance, or a summary thereof in compliance with Idaho Code §50-
901A, shall be published once in the official newspaper of the City, and shall be in full
force and take effect immediately/uupon its passage, approval, and publication.
Approved and adopted this —day of January, 2023.
CITY OF EAGLE
Ada Count Idaho
AS N P IRCE
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CITY CL K
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