33-59 Designate & award public funds to depositories

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0RDINANCE NO. 33-59 BY: Messrs. Lawther, Ward, Fahrenbach, Fairgrieve, Gaydos, Gettermeyer. AN~RGENCY ORDINAN~ designating and awarding pmblic funds to pm~lic depositories. ~ERE~, an emergency exists to provide for the usual daily operation of a municipal department arising from the necessity for providing depositories for public fmnds without delay; and WHEREAS, pmrsuant to Resolmtion Nc. 3928, adopted April 6, 1959, providing for the application by banks desirimE to become depositories for pmblic funds of the City of Lakewood, the following applications were received: FOR ACtiVE DEPOSITS BANK Central National Bamk of Cleveland The Cleveland Trust Company AMO~T No maximum amount stipulated No maximmm amount stipulated RATE OF INTEREST None The National City Bamk of No maximum None Cleveland amo~ut stipulated Society National Bank of No m~mum Nome Cleveland amom~t stipulated No maximmm amo~mt stipulated The Union Commerce Bank FOR !NA,~TIVE DEPOSITS Central National Bank of Cleveland No maximmm amount stipulated Maximum amount No maximum amount stip~ate~ No maximum amoun$ stip~ate~ Maximum amount $ 3,000,000.00 Maximum a me.mt $ 3,000,©©0.00 The Cleveland Trust Company The National City Bank ~f Society National Bank of Clevelaad ~Union Commerce Bank " " " Alternate None 2~% plus additional 1% plms additional 2% 1% plus additiomal 1~% 1% plus additional 2% Al~ern.ate - 1% p. lus addmtional 2~ NOW, THEREFORE, BE IT ORDAINED BY THE CO~CIL OF THE CITY OF LA--OD, OHIO: