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RESaLUTION NOs 232 <br />$y MT'e Z'+T1dY°C'SS <br />A REuOLUTSON AUTHORIZING SUBSTITUTION QF SECURITIES <br />1?YHEREAS, to secure the deposit of funds of Vi11age of Yayfield <br />in the National Ci-ty Bank of Cleveland, under depository designation <br />terminating, pursuant.to G.C. Section 2296-11 ( Revised Code Section <br />135.11) on August 22, 1955 , certain obligations of the United <br />States of America have heretofore been deposited and are now on deposit <br />yvith the Federal Reserve Bank of Cleveland for safekeeping; and <br />VVHEREAS., said Bank has requested this subclivision to authorize <br />said Federal Reserve Bara of Clevela,nd to permit substitution of securities <br />in such safekeeping account and this subdivision has determined that such <br />authorization is feasible and proper on the terms hereinafter set forth. <br />N01"l THEREFORE BE 1'T RESOLVID BY THE COUiqCIL OF THE VILLA.GE OF <br />MAYFTELD, STATE OF OHIO: <br />Sec. 1. That the Federal Reserve Bank of Cleveland be, and it is, <br />hereby authorized at any time during the period ending August 22, 1955, <br />to permit the National City Bank of Cleveland to vri.thdraw any obligations <br />of the United States of America now or hereafter during the aforesaid <br />period on deposit with the Federal Reserve Bank of Cleveland for safe- <br />keeping for the accoun-t of said bank and this subdivision, provided <br />that said bank shall.at the same ti.me deposit in such safekeeping account <br />with the Federal Resex°ve Bank of Cleveland in substitution for the <br />obligations so withclrawn other obligations of the United States of America <br />of a principa.l amount not less than the obligations so withdrawn. <br />Sec. 2. The Treasurer ( as defined in Ohio General Code Section <br />229,6-1:•.:and ,Revi.sed Code Section 135.01) is hereby authorized to certify <br />a copy pf this 'Resolution to the Federaserve Bank, -o:f -Clevala,nd and to <br />. . <br />the. ATational? City 'Bari,k d-,'C3.eveland? ,-?. y?•?= <br />Passed ?th'is lst"day"of October, 1953. <br />.. . . <br />.. <br />,.... . >., .," : ';.'._...-.... ? ,., ..<r . ...?..?• ,. - - <br />: ,,...:? .-. _. ._.. <br />., .- ,.•.;,... _ .. . <br />, .. ... :: . :?.::,. ? .;;;:•:;;: ..?:.,,.. , o?.., .? resen ` of Counc' <br />. •. . . ? . . ? . .: _ ...?_ ?'. <br />- : ? . ?.. /?/?Y? V' e . ' • . • . • ' , . . ... <br />? <br />Signed Clerk ..::.'?. ' .'.. ;;_::::. ?: :.:: =.: ,,. .:; :::: .:::: ;.,:•: ..; ..:,_.