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? <br />? <br />d ? <br />Z ' <br />d <br />F- <br />cn <br />RESOZII`rION No e 461 <br />By Mr. Z orra <br />, A RESOLtITION AIITHORIZING SUBSTITUTIOPJ OF SECURITIES <br />? `WHEREAS, to secure the deposit of fwnds of the Vi.llage of Mayfield <br />in the. CENTRAL NATIONAL BAtQK OF CLEVELAND, THE; NATIONAI. CITY BANK OF <br />_ .._.:._. <br />CLEVELAND,., ancl THE, CZE.VELAND TRUST, CONIPANY9. under. depository designations <br />' terminating, pursuasxt to.,Ohio,Revi.sed Code Section 135e11, on ?ugust 23rd, <br />1961, certain obligat3.oris of the'-United Sta-tes of Arnerica have hitherto <br />been deposited by said banks and are riow on deposit with the Federal <br />Reserve Bank of Cleveland for safe keeping; and <br />'WfiEREA,S, each of said ba.nks has reqnested this Village to authorize <br />said Federal Reserve Bank of Cleveland to permit substitution of securities <br />in such safe keeping.accounts and this Village has deter.mined that such <br />? authorizations are feasible and proptr on the ter.ms hereinafter set forth. <br />w <br />a <br />NOW THEREFORE BE IT RESOLVED BY THE COUNCII, OF THE VILLAGE OF <br />L ' MA)TTEI,D, . CUYAHOGA COIINTY OHIO,-- THAT:. <br />_•.- <br />? Sec. l. The Federal Reserve Bank of Clevelar3d, be, and i-t hereby is, <br />authos?a.zed-at any ti.me during the period endi.ng Augv.st 23rd, 1961, to <br />Cbper.mit the Centxal National Bank of Clevelaxid, Th.e National City Bank of <br />m Cleveland axad The Cleveland Trust Company' tp withdraw any obligations of <br />the United StateS of America, noir or hereafter, during the aforesaid <br />period, on deposit i,rith the Federal Reserve Bank of Cleqeland for safe <br />? keeping for the aecount of said banks and this Village9 provided that <br />? each of said banks shall at the same time deposit in such safe keeping <br />z account tiaith the Federal Reserve Bank of Cleveland, in substitution for <br />the obligatiozss so withdrawn, other obligations of the United States of <br />M_ America of a pr3ncipal amount not less than the obligations so withdra-wn. <br />Sec. 2. The Treasurer of the Village is Yiereby au-thorized to certify <br />a copy of this 4esolution to the Federal Reserve Bank of C1.eveland, the <br />Central National Bank of Clsveland, The National City Bank of C1eveland, <br />and The Clevelarid Trust Company, . „ <br />' Adopted this 2nd day of Sep'tember9 1959'. <br />? <br />Atte st t <br />, Mayor - resident of Counci <br />sea <br />? <br />? <br />?