Show SCHEID HAS A TILT WITH TREASURER GODBE j r Keeper e per of City's Money Objects Ob Ob- to R Resolution so Adopted BANK W BONDS Commissioner T Tells ls Lieutenant Lieutenant Lieutenant Lieu Lieu- tenant to Comply or Quit His Job A new new directing the city tre treasurer to depos deposit instead of b lo loan n of the the water bond funds to the State Bank of Tremonton for a a period of of seven months at 4 45 5 per cent interest was adopted by y vote of four of the city commission this morning Commissioner w W. W H H. Shearman Shearman who is Interested in the bank asked to be I excused from voting on th the thO matter A resolution providing for a loan of to this bank from the water bond funds was to have been submitted submitted submitted sub sub- to the commission Tuesday morning but the city attorney at the thelast thelast thelast last moment advised that the money could not be legally loaned legally loaned to any bank and the resolution was destroyed The city treasurer took the stand that the loan could not be made and took the matter up with the attorney with the Hie result that the attorney rendered his opinion in the matter Then Commissioner Kar A A. Scheid had a new resolution prepared directIng directing directing direct direct- ing th the city treasurer to deposit 30 of the water bond funds in the Tremonton bank for seven months at 45 p per r cent Interest When the new resolution was prepared Mr Scheid showed it to the treasurer who ob objected obJected objected ob- ob that this was merely another way of making a a. time loan to the bank which he considered to be Illegal illegal illegal Ille ille- gal and which he as treasurer and under under under un un- un- un der bond ond to the city for th UK city's money could not do Commissioner Scheid Informed th thu treasurer that if the resolution resol was adopted by the commission and he re refused refused refused re- re fused to act act- according ling to its direction n nhe he could hand in his resignation When Informed that the resolution had been adopted Mr Godbe stated that before taking any ny action he would consult his bondsmen and attorneys and would call cali upon the city attorney for a written opinion as to the legality of the procedure He would not state what he might do until he has had this information Mr Dininny advised the board orally this morning that it would b be legal tg let the bank have the money in the way provided by the new resolution he thought Mr Godbe sar says says' th the attorney advised him him directly to the contrary only the day before and he wants a written opinion from the attorney on the mat- mat tet out Just where the attorney does stand stand The funds are now on deposit in the theN N National City bank ban and draw 4 per cent interest On the change the city will gain one-half one of 1 percent per cent Interest for fora a period of seven months The Thenet net In Increase increase in crease to the city treasury at the end of the seven months will be 87 50 |