52-79 designate & award public funds to depositories

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Under lO0,O00 - non withdrawable 30-59 (incl.) 5% 90 days or more, but lesS than 1 year 5.5% I year or more, but less than 30 months 6% 30 months or more, but less than 48 months 6.5% Society National Bank $100,000 and over 30-59 9.5% 60-85 9.75% 90-119 9.875% 120-149 9.90% 150-179 9.95% 180-269 10.25% 270-364 10% 1 year & over 10% Union Commerce Bank $100,000 and over 30-59 9.70% 60-89 9.90% 90-149 10.05% 150-179 10.20% 180-269 10.55% 270-1 year and over 10% 182 day money Market C of D 9.459% (for amounts les~- than $100,000) Under $100,O00-non withdrawable VarYing rates as permitted under Federal Reserve Regulation "Q" The foregoing are subject to Federal Reserve Regulation Q where applicable, and further, to prevailing interest rates at the time of such Interim deposits. NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF LAKEWOOD, STATE OF OHIO: Section 1. That the deposit of monies of the City of Lakewood be awarded as follows: Active Deposits to: Central National Bank of Cleveland The Cleveland Trust Company The National City Bank Society National Bank of Cleveland Union Commerce Bank Interim Deposits to: Central National Bank Clevel.and Trust Company National City Bank Society National Bank of Cleveland Union Commerce Bank and the Director of Finance is hereby authorized and directed to deposit all monies coming into his possession as Director of Finance in the banks named in this section from time to time during the period of two (2) years commencing July 1, 1979 in accordance with .the p~ovisions of this application as above indicated.