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105 <br /> <br />(New Series). <br /> <br /> AN ORDINANOE OF THE CITY OF RIVERSIDE, PRO- <br />VIDING FOR THE DEPOSIT OF MUNIOIPAL MONEY I~ BANK~. <br /> <br /> The Mayor and Common Council of the Oity of <br />Riverside do ordain as follows: <br /> <br /> Section 1. Ail moneys belonging to the <br />City o£ Riverside which may have accumulated in the <br />hands of the treasurer of such Oity and which may be <br />subject to deposit under the provisions of Sec. <br />of Article VIII of the Charter of said City, shall <br />be deposited by said treasurer, subject to the ap- <br />proval of the Common Council of said City, in savings <br />banks organized under the laws of the State of Cal- <br />ifornia and doing business in said City, at such a <br />rate of interest, not lees than two per cent per an- <br />n~m, as may be agreed upon between said treasurer and <br />said banks and approved by said Council, which said <br />interest shall be paid at such times as may be de- <br />termined by said treasurer and said banks and approved <br />by said Council; provided, however, that such bank or <br />banks in which such moneys are deposited shall furnish <br />as security for such deposits, bonds of the United <br />States or of this state, or of any county, municipal- <br />ity, or school district within .this state, approved by <br />the treasurer and c~tY attorney of said City. The <br />market value of the bonds furnished as such security <br />shall be at least ten per cent in excess of the amount <br />~£ ~he deposit secured thereby; but the m~ount?f:the <br /> <br /> <br />
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