[R.O. 2009 § 135.010; R.O. 2007
§ 130.010]
A.
Beginning with the selection of the depository
for the City for the years 2018 and thereafter, the City shall request
proposals for the deposit of City funds and the making of short-term
loans to the City within constitutional, statutory and ordinance limitations
from any banking corporation or association or savings and loan corporations
or associations having a permanent place of business within the City
of Bolivar, Missouri, and which may desire to be selected as such
depository, provided that the City may keep such financial corporation
in its position as depository for the City for a period of up to four
(4) years before the next request for proposals for depository.
[Ord. No. 3382, 9-26-2017]
B.
Notice that such proposals will be received
shall be published two (2) times, the last such publication to be
at least ten (10) days prior to the date established for the acceptance
of such proposals in some newspaper of general circulation published
in the City of Bolivar, Missouri.
C.
No proposal shall be received by the City
of Bolivar unless the financial institution submitting the same has
an established place of business within the corporate limits of the
City of Bolivar, Missouri, at which it provides all banking services
required by the City, nor unless its deposits are insured to the limits
established by the United States Government by an agency of the United
States. The Board of Aldermen may consider the financial condition
of any financial institution submitting a proposal in selecting a
depository in addition to any other relevant consideration.
D.
All depositories desiring to submit a proposal
shall provide such information pertaining to their proposal as may
be requested by the City, including, but not limited to, the amount
of interest that will be paid on checking deposits, the amount of
interest that will be paid on savings and time deposits, the amount
of interest to be charged on short-term loans to the City, a statement
of fees and charges, if any, for banking services and such other information
as the City may request or as the depository may choose to include
as a part of its proposal.
E.
The City may establish a time prior to
the meeting of the Board of Aldermen for the submission of such proposals
and it shall be lawful for such proposals to be opened prior to such
meeting for the purpose of being summarized and evaluated for the
benefit of the Board of Aldermen at its April meeting.
F.
The Board of Aldermen may waive any irregularity
in proposals, reject all proposals or select the proposal that it
believes, in its discretion, is in the best interests of the City
based upon a consideration of all relevant factors and not merely
on the rate to be paid on deposits.
[R.O. 2009 § 135.020; R.O. 2007
§ 130.020]
A.
All depositories of City funds shall provide
security as required by the provisions of Sections 110.010 and 110.020,
RSMo., as now in effect or as hereafter may from time to time be amended;
provided, however, that this Board of Aldermen may by ordinance or
regulation adopt more restrictive security requirements than that
required by State law and may exercise its discretion in approving
or disapproving any proposed security.
B.
Any depository which fails to meet the
security requirements required by State law or by ordinance shall,
to the extent of such failure, immediately cease to be eligible as
a depository of City funds.
[R.O. 2009 § 135.030; R.O. 2007
§ 130.030]
The Treasurer shall receive and deposit
or cause to be deposited all City funds entrusted to his/her care
into the depository selected or designated by the Board of Aldermen;
and shall pay over on money, bonds or other obligations of the City
on warrants or orders duly drawn, passed or ordered by the Board of
Aldermen and signed by the Mayor and attested by the City Clerk to
the extent of funds available on deposit for the payment of such warrants.
[R.O. 2009 § 135.040; R.O. 2007
§ 130.040]
If for any reason no selection of
depository is made at the time fixed by this Chapter, the last selected
depository shall continue as the City depository until a new depository
is selected in accordance with the procedures established by this
Chapter. Should the City fail to receive proposals for consideration
at the April meeting following the annual Mayoral election, the Board
of Aldermen may, at any subsequent meeting after notice published
as hereinbefore provided, receive proposals and select a depository
in the manner herein set out for a term continuing until the time
established by this Chapter for the rebidding by depositories.
[R.O. 2009 § 135.050; R.O. 2007
§ 130.050]
The Board of Aldermen may by motion,
resolution, regulation, ordinance or other official action impose
upon any depository or City Officer or employee such additional requirements
as from time to time it may deem necessary for the best interests
of the City relating to services, recording or other fiscal matters,
provided no such requirement may be contrary to law, to this Chapter
or contrary to a binding, contractual obligation made by the City.
[R.O. 2009 § 135.060; R.O. 2007
§ 130.060]
Nothing contained in this Chapter
shall be construed as limiting the discretion of the Board of Aldermen
from soliciting proposals at more frequent intervals than provided
by this Chapter; or from soliciting competitive proposals for the
deposit of surplus City funds in addition to the depository proposals
provided for in this Chapter; or from the deposit of surplus City
funds in obligations of the United States of America or State of Missouri;
or from soliciting competitive proposals for short-term loans from
other lending institutions in addition to that submitted pursuant
to provisions of this Chapter; or from issuing bonds or other long-term
debts pursuant to the Missouri Constitution and Statutes to another
financial institution, broker, dealer, underwriter or individuals
without regard to the competitive proposals provided for in this Chapter.
