Chapter 4.12
GUARANTY DEPOSIT TRUST FUND

Sections:

4.12.010    Created.

4.12.020    Custodian.

4.12.030    Deposits.

4.12.040    Receipts – Form.

4.12.050    Receipts – Countersigning.

4.12.060    Payment of vouchers.

4.12.010 Created.

A guaranty deposit fund is created for the purpose of taking care of all temporary deposits of money that shall be required by any of the various departments of the city government. [Code 1980 at § 1.20.180].

4.12.020 Custodian.

The city treasurer is appointed the custodian of said fund, and he shall make proper accounting of the moneys in said fund in the same manner, as nearly as may be, as other funds are now accounted for by him. [Code 1980 at § 1.20.190].

4.12.030 Deposits.

Whenever any of the departments of the city government, except the judiciary and police departments, shall require by ordinance or otherwise any person or corporation to deposit money as a guaranty of good faith or the faithful performance of any specific contract, act, or agreement, which said deposit is of a temporary nature only and is conditioned upon such faithful performance of said contract, act or agreement, then such deposit of money shall be paid to the city treasurer who shall receive and keep the same in the manner provided by law until the said specific contract, act, or agreement has reached its termination. [Code 1980 at § 1.20.200].

4.12.040 Receipts – Form.

The city treasurer shall issue a receipt in triplicate for said temporary deposit as follows:

The original receipt shall be given to the payer and become a voucher for the disbursements of amounts thereof when properly countersigned by the head of the department requiring said deposit to be made, and endorsed by the payer thereof. A duplicate of said receipt shall be filed with the finance director and a proper account made thereof. The triplicate of said receipt shall remain in the possession of the city treasurer, which receipt shall be in substantially the following form:

City of Bellingham.

No. ________

TREASURER’S VOUCHER FOR THE COLLECTION AND DISBURSEMENT OF GUARANTY DEPOSITS.

When checked and countersigned by the Finance Director and stamped PAID by the treasurer of the City of Bellingham, this Voucher becomes a RECEIPT for the amount and purposes as specified herein; and, when countersigned by the head of the department requiring the deposit to be made, it becomes a WARRANT upon the Guaranty Deposit Fund for the amount of its face, as per Ordinance No. __.

_______________, 20____

_____________________

Payer

_____________________

Address

_____________________

DOLLARS, $__

as a Guaranty Deposit required by the __________________________________

Department, as per bill No. _____, for ___________________________________

___________________________________

Checked and countersigned by

__________________________

Finance Director

[Code 1980 at § 1.20.210].

4.12.050 Receipts – Countersigning.

The heads of the various departments of the city government are authorized and directed to countersign said original receipt for all deposits required by each of their several departments, when they shall be satisfied of the faithful and complete performance of the specific contract, act, or agreement for which said deposit was required. [Code 1980 at § 1.20.220].

4.12.060 Payment of vouchers.

The city treasurer is authorized and directed to pay the amount of all such guaranty deposit vouchers when properly countersigned by the head of the department requiring such deposit to be made.

The finance director shall pass said vouchers to the credit of the city treasurer in the same manner as other trust fund vouchers are passed to his credit. [Code 1980 at § 1.20.230].