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eligible depositories as determined by the Director of Finance, at least sixty days <br />prior to the date of the action of the Director of Finance designating depositories <br />for the City's active deposits. Such notice shall: provide an estimate of the <br />maximum amount of such active deposits at any time during the period of <br />designation and the proposed period of designation or alternative proposed <br />periods of designation; request such depositories to apply in writing for all or part <br />of the City's active deposits on or before a date and time specified in the notice; <br />request such depositories to state in their application the amount of such active <br />deposits that will be accepted by it, the rate or rates of interest, if any, that will <br />be paid on such active deposits, the service charges, if any, that will be made for <br />its services, other terms or conditions with respect to the depository's acceptance <br />of all or part of the City's active deposits and the location of its offices in the City <br />or, if none are located in the City, the location of its nearest offices; and include <br />or request any other information to or from such depositories which the Director <br />of Finance deems relevant. <br />(d) ... <br />Section 2, It is found and determined that all formal actions of this Council <br />concerning and relating to the passage of this ordinance were adopted in an open <br />meeting of this Council, and that all such deliberations of this Council and of any of its <br />committees that resulted in such formal action were in meetings open to the public in <br />compliance with all legal requirements. <br />Section 3. That this ordinance is hereby declared to be an emergency measure <br />necessary for the immediate preservation of the public peace, property, health, safety <br />and welfare in the City and for the usual daily operation of the City for the reasons set <br />forth and defined in the preamble to this ordinance, and provided it receives the <br />affirmative vote of at least five (5) of its members elected to Council, this ordinance <br />shall take effect and be in force .immediately upon its adoption by the Council and <br />approval by the Mayor otherwise, it shall take effect and be in force after the earliest <br />period allowed by law. <br />Adopt~d: ~ ~d Li <br />Approved: / ~ ~~ ~~ <br />PRESIDENT <br />