3641 - 55 Withdrawl & substitution of securities

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other ~e ~on ~ ~f ~e~ ~y ~d ~e ~ti~l City ~ ~ ~ed ~tates of ~ri~ ~ve he~fo~ ~en deposited ~ties in ~ ~f~eep~ aeco~t ~d ~s ~vi~ioa te~ned ~t ~ aut~~n ts f~si~e ~ ~r ~ ~ h~er ~t fo~, ~d %~L~EA$, this resolution eon~itutes an emergency Lu that ~uhli= ~epostto/iea have ~eaignate~ ?he Federal ~eaerve Bank ~levelan~ aa Trastee and ~eaire ~rovistona mdc for the exchange aud release Of aecuritie8 ~nd ~he substitution of other ~ect~rities, all l~ovided by the Unifora ~epositorYlA©t~y Of ~e ~te of ~o, ~d ~ ~t It p~s for the ~l o~tiOn of a ~~ ~ BE IT ~L~ ~Y ~E CO~CIL OF T~ ~ ~F ~D, ~A~ OF 0~0~ Sec~ioa 1. That The Federal l~eeet~re ~ ef Cleveland be a~ud it ia hereby author~d at any time durim~ the I~riod andimg June 19~7, to permit The Cleveland Trtmt Company, ~t~ ~tio~ ~ ~k of Clewed, to ~aw ~ ~b~ga~to~ of ~e ~ted ~tate~ ~ri~ now or he~er d~ ~e ~o~id ~od ~ de~al~ ~ ~e Fede~ P~se~e ~ of clerked f~r s~e~p~ for ~e ac~t ef aai.d, banka and this ~ubdivielon. pr~ovided ~ ~ s~ ~ de~st~ An ou~ s~ekeepi~ ae~t ~ t~ Fe~r~ . ~ese~e ~ off Clevel~d Xn ~stituti~ For ~e obli~t~ons ~ ~. ~ue ~a~ be that ~v~lin~ in ~e ~ew York ~ket at~ the~ose ca ~e b~iness ~ ~ ~c~ ~e ~ ~n ~ch S~bs~ltution iO effecte~ ~ction 2. That ~he Director of Finance as Treasurer of tho City of I~kewood is hereby directed tocertify & copy of this resolu- tion to The Federal Reserve Bank cf Cleveland and to The Cleveland Trust Comfy, Central lla.t, ional Bank of Cleveland, The Union ~.k of ¢o~erce Company and The ~ational City ~ of Cleveland. Section 3. This resolution ia hereby declared to be an e~er- ~ency measure for the reasons s~ated t~ the preamble hereof and, pro- vided it receives the affirmative vote of two-thirds of all me, bets elected to Council, it ~alI take effect and be info,ce ima~ediately upo~ its adoption and approval by the~ayor. ~. R.,, ~airerieve .,