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_ <br /> ~ _ <br /> s_ <br /> ~oI.UTION NU. 3258 HY Mr. Fahrenbach <br /> i <br /> APS EF~IVCX Rl~4LiJTlON authorizing withdxE,wel of seouritiea oa deposit <br /> with, and the substitution of other securities with, The Federal Reserve <br /> Hank of Cleveland as Trustee for safekeepiago <br /> to saavre the deposit of Suede o! the City oS Iek®wood in_ <br /> _ .The Cleveland Trust Company, under Repository designation terminating, <br /> pursuant to General.Code Section 8896~11~ on June 30, 1947, oertaia obligations <br /> of the United States o! wnerae hove heretofore bean deposited and era now <br /> on deposit arith the.Bederal Reserve Soak of 4ierelead for safekeeping end <br /> J ~~~f ~ <br /> said bank has requested this subdivision to authorise asi6 <br /> 1'edaral Reserve Hank of Cleveland to psxmit substitution of securitiess 1n - <br /> 'I. suoh safekeeping a4couttt sad this subdivision has flotarmined that such <br /> authorisation is feasible and proper oa the terms hereinafter sat forth, sad <br /> - Ya2IIC12El13, this resolution constitutes as ssurrgenoy in that said public <br /> ~ ~ ~ depository has designated The Federal Reasxwe Beak of Qleveland as Trustee <br /> I•' ~ and desires proriaione made for the axahange sad release of aeaurities end <br /> the aubatitutioa of other securities, all as provided by the Uniform <br /> ' Depository Act of the State of Ohio, and in that 1t provides for the usual <br /> daily operation oS a munieipai department, nano, therefore, <br /> _ <br /> BF, ZT RFLiCiLV~ HX THE COUNCIL OF Tr~33 CITY OF' ='Oq7, 3T1eTl"s OB <br /> OF1IOf <br /> Section"l. "That Zhe 8ederal Reserve Hank of Clevelam: be, and it <br /> Se hereby, authorized at any time during the period ending Duns 30, 1947, <br /> ' to permit THE CLEV3LAtII>'TRUST COPi?ANY to withdraw any obligations of the <br /> United Stetea of,AmsriOa now or hereafter during the aforeaald period oa <br /> I.= deposit frith The:Federal Reserve 33ank of Rlevelend far safekeeping Pos <br /> { the noaouat of said beak and this subdivision, provided that aetd bank <br /> shall at the gene time deposit in such aePeksepiag eoaouat with the Federal ' <br /> Reserve Bank of Cleveland in substitution for the obligations so withdreen <br /> ~ other obligations of the United States of i~merioa of an e,ggrsgate market <br /> value n 1 e the o i btions so with~a Nark~t value shall bg t p veil <br /> <br /> r w~~ ~n ~~ie ~or'~c marl~~~the close on the~usiness daq next prececU.n~ the day up <br /> c su sti ut on is a ec ed. <br /> Section That the Director of Finaace as Treasurer of the City <br /> of Lakewood ie hereby directed to sertii'y a copy of this resolution to The <br /> Federal Reserve Hank of Cleveland and to The Cleveland Trust Cwapauy. <br /> section 3. This rsaolution is hereby desisted to be an energenoy <br /> measure for the sreasone stated in the preamble hereof and, provided it <br /> reaeivea the affirmative vote of two-thirds of all members sleeted to <br /> Council, it shall take effect and be in Poroe ir~ediately upon its <br /> adoption sad approval by the l&ayoTs <br /> June 17 ~ 19Lt6 <br /> rpted• ti'dr.1. Ii. Fairgrieve <br /> krealdeat <br /> H. A. Rees <br /> 17, 1946 Clerk <br /> ~,,.o, . < . <br /> i. Kauffman ~ ~ r 4 <br /> Mi`+ ~ % <br /> <br />