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<br />Sec. 113. Same—annual settlement with treasurer.
<br />The Auditor shall, within sixty clays after the close of each
<br />fiscal year, make an annual settlement with the Treasurer, said
<br />settlement to include all taxes, licenses, gas, water and such
<br />other bills and revenues as may be properly chargeable to him
<br />for the previous fiscal year. Said reports shall show the amount
<br />of money collected by the Treasurer from the several depart-
<br />ments and the amount of uncollected bills rechargeable for the
<br />ensuing fiscal year. Said report shall be submitted to the Fi-
<br />nance Committee of the Council for examination and approval
<br />and spread upon a book kept for that purpose.
<br />Sec. 114. Same—publication of monthly disbursements,
<br />and annual reports.
<br />The Auditor shall prepare as soon after the close of each
<br />month as may be practicable, a statement showing the expendi-
<br />tures for the previous month, showing the amount of each
<br />warrant, to whom paid and for what incurred, and the depart-
<br />ments to which the said warrants are chargeable. Said report
<br />shall be published for three consecutive days in some newspaper
<br />of the city, or in such other manner as the Council may pre-
<br />scribe. He shall also have published in such manner as the
<br />Council may prescribe the annual reports as provided for in sec-
<br />tion 109 of this chapter.
<br />Sec. 115. Same—secretary of the sinking fund.
<br />It shall be the duty of the Auditor, as one of the Sinking Fund
<br />Commissioners, to act as secretary of said commission, and to
<br />keep such books and records as may be necessary to show a
<br />complete and detailed account of the transaction of said com-
<br />missioners.
<br />Sec. 116. Same—general duties.
<br />The Auditor shall perform such other duties as are or may
<br />hereafter be required of him by any ordinance, resolution or
<br />act of the Council. He shall be paid a salary to be fixed by the
<br />Council, which shall not be diminished or increased during his
<br />term of office.
<br />See. 121. Same—purchase of bonds for fund,
<br />The Board shall apply all appropriations, interest and profits
<br />from any bonds held by them to the purchase of bonds or cer-
<br />tificates of debt of this city, or of this State, or of the United
<br />States, or of some other state of this Union, or any other bonds
<br />the Sinking Fund Commissioners may deem a safe investment.
<br />The accrued interest on said securities shall be collected by the
<br />Treasurer when due, and deposited to the credit of the sinking
<br />fund. All such securities shall be held and the interest thereon
<br />re -invested according to the provision of this ordinance, until
<br />some part of the city debt shall become due, when, unless other
<br />provision be made by the Council, such securities, so far as
<br />may be necessary, shall be sold and the proceeds applied to the
<br />payment of such matured part of the city debt; provided, how-
<br />ever, that only such proportion of the sinking fund shall be used
<br />in the payment of any maturing bonds, as the amount of said
<br />maturing bonds bears to the whole bonded indebtedness of the
<br />city; the residue of said maturing bonds to be refunded.
<br />Sec. 122. Same --annual report of.
<br />The Sinking Fund Commission shall, through its secretary, on
<br />the first day of each September, make a report of the condition
<br />of the sinking fund to the Council. Said report shall state the
<br />cash receipts for the year, in detail, an itemized list of bonds
<br />bought or sold, with price paid or received, and a detailed list of
<br />all securities held by said Commission. Said report shall be ap-
<br />proved by the treasurer of the Sinking Fund.
<br />Seo. 128. Disbursements --how made.
<br />All disbursements by said Commission shall be by warrant of
<br />the secretary, countersigned by the president of the Board,
<br />drawn on the treasurer of the Sinking Fund Commission.
<br />CHAPTER X.
<br />SINKING FUND.
<br />Sec. 117. Sinking fund—commissioners of.
<br />For the purpose of managing, preserving and applying the
<br />sinking fund required to be created by the Charter and the
<br />Ordinances of the city, the Mayor, chairman of the Finance
<br />Committee of the Council, Auditor, Treasurer, and president
<br />of the Council shall constitute a board to be called the Sinning
<br />Fund Commissioners.
<br />Sec. 118. President and secretary.
<br />The Mayor shall be the president, and the Auditor the secre.
<br />tary, of said Board. The secretary shall keep a correct journal
<br />of the proceedings of every meeting, to be signed by himself and
<br />the president, and shall preserve all books and papers of the
<br />board in his office.
<br />Sec. 119. Treasurer.
<br />The City Treasurer shall keep an account of and shall be the
<br />custodian of all moneys, bonds and other evidences of debt be.
<br />longing to said sinking fund, and shall be the treasurer of Sink.
<br />ing Fund Commission.
<br />Seo. 120. Sinking fund.
<br />The Council shall set apart from the resources of the city
<br />such proportion of its annual revenues as shall be equivalent
<br />in cash value to at least one -fortieth of the bonded debt of the
<br />city. Said fund shall be set apart, one-half on the first day of
<br />January of each year and the other half on the first day of
<br />July of each year, and shall be placed to the credit of the Sink.
<br />ing Fund Commissioners. The fund thus set apart an(] invested,
<br />together with the annual interest and profits therefrom, shall be
<br />called the sinking fund, and shall be kept for, and is hereby
<br />dedicated to, the payment of the lxrndecl debt Of the city, and
<br />shall not be applied by the Council to any other 1,urpose.
<br />CHAPTER XI.
<br />CITY CONTRACTS.
<br />Seo. 124. City contracts --how awarded; notice to 64•
<br />ditor.
<br />No contract for work to be clone or purchase of any material
<br />or supplies, the cost of which will exceed two hundred dollars►
<br />shall be made until such contract or purchase shall have been
<br />ordered by the Council. Whenever any committee, officer or
<br />board of officers of the city shall he directed by ordinance or
<br />resolution of the Council to procure any work to he clone, or
<br />any materials or supplies to be furnished, the cost of which
<br />will exceed two hundred dollars, it shall be the duty of such
<br />committee, officer or board to give at least ten clays' notice to
<br />the newspapers wherein are published the city ordinances, or
<br />such trade publications as may be best suited for the purpose of
<br />inviting proposals for doing such work or furnishing such nik
<br />terials or supplies; and said committee, officer or board shall
<br />award such work, or the furnishing of such materials or sup'
<br />plies, to the lowest and best bidder; provided, that if the Council
<br />shall limit the cost thereof, the same shall not be let at a cost
<br />exceeding such limit. As soon as practicable after the award is
<br />made, it shall be the ditty of said committee, officer or board to
<br />transmit a notice to the City Auditor, reciting the terms of the
<br />contract and the names of the contractors, and directing him to
<br />prepare the proper contract, which shall be in such form as the
<br />City Attorney may approve.
<br />Sec. 125. Same—how performance secured.
<br />The performance of all such contracts shall be secured by at
<br />least two approved sureties giving bond to the city in amounts
<br />as follows: When the estimated amount of the contract is two
<br />thousand dollars or less, the bond shall be for the full amount
<br />of the contract; and when the estimated amount of the contract
<br />is over two thousand dollars, the bond shall be for two thc'usand
<br />dollars and twenty-five per cent. of the amount of the estimate
<br />
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