Chapter 1.28
CITY WARRANTS

Sections:

1.28.010    Warrants – Time for presentment.

1.28.020    Warrants – Payment – Procedure on insufficiency of funds.

1.28.030    Warrants – Treasurer to fix rate of interest.

1.28.040    Warrants – Call for payment – Three-day limitation on interest.

1.28.050    Warrants – Three-day limitation.

1.28.010 Warrants – Time for presentment.

All warrants issued by the city of Wenatchee, Chelan County, Washington, in payment of any claim or in liquidation of any indebtedness against said city, or any subdivision, district or department thereof, shall be presented to the treasurer of said city within a reasonable time after date of issuance thereof for payment. (Ord. 297 § 1, 1909)

1.28.020 Warrants – Payment – Procedure on insufficiency of funds.

All warrants issued as prescribed in WCC 1.28.010, immediately upon presentation to said treasurer, shall be paid by him from the fund against which the same has been drawn, provided, that he have sufficient money remaining to the credit of such fund with which to pay all warrants issued against said fund which shall precede by date or number the warrants so presented; and provided, that if there be no money available in the fund against which said warrant or warrants may be drawn with which to pay the same, then said treasurer shall register the date of presentment of such warrant or warrants upon the face thereof, together with a notation thereon that the same is or are not paid for want of funds and shall keep a sufficient record of such presentment and registration in a book which he shall provide and keep for that purpose. (Ord. 297 § 2, 1909)

1.28.030 Warrants – Treasurer to fix rate of interest.

It shall be the duty of the officer issuing such warrants to make monthly payments or investigations to ascertain the market value of the current warrants issued by him, and he shall so far as practicable, fix the rate of interest (not in any event, however, exceeding the maximum rate of eight percent) established by law on the warrants issued by him during the ensuing month so that the par value shall be the market value thereof; provided, however, that the city commission may from time to time fix by directory resolution the rate of interest which warrants thereafter shall bear. (Ord. 434, 1913; Ord. 297 § 3, 1909)

1.28.040 Warrants – Call for payment – Three-day limitation on interest.

Whenever the said treasurer as such shall have in his hands the sum of $500.00 belonging to any fund against which warrants are outstanding and unpaid it shall be his duty to make a call for such warrants in the order of their issue as together with the accrued interest thereon will aggregate that amount, and he shall cause such call to be published in the official newspaper of said city once in the first issue of such newspaper after such sum shall have been accumulated describing by number the warrants so called, and specify the fund against which the same were drawn, and advising all holders thereof to present the same for payment at his office, and that all such warrants shall cease to draw interest from and after the third day of the date of such publication of such call; provided, that if the warrant longest outstanding on any fund shall exceed the sum of $500.00 then no call need be made for warrants on such fund until the amount due on such warrant shall have accumulated; and provided further, that nothing herein contained shall prevent said treasurer from issuing such call when he shall have sufficient moneys to pay any such outstanding warrants in any sum less than the amount above specified; provided that no more than two calls shall be made in any one month. (Ord. 297 § 4, 1909)

1.28.050 Warrants – Three-day limitation.

After the third day from the publication of the notice prescribed in the preceding section, all such warrants as shall have been called for shall cease to draw interest, and upon presentment thereof said treasurer shall pay such warrant or warrants together with accrued interest. (Ord. 297 § 5, 1909)