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, RESOZUTTON No. 504 <br />By Mr. Grootegoed <br />; A RESOI,UTIOIi ESTIMA.TING THE IJI.FIXIMUM AMOUNT OF INACTIVE <br />; AND ACTIVE DEPOSITS FOR. THE NEXT TWO YEARS . <br />, WEREASa the present depository designation for the deposit of the <br />publie moneys of the Village of Mayfield expires August 22nd, 1961, and the <br />Council is desirous of designating an ofiicial depository for the period of <br />August 23rd, 1961, to August 23rd, 1963, inclusive4 <br />NOG7 'I'HEREFORE BE IT RESOLVED BY THE COUNCII, OF THE VILI.AGE OF <br />MAYFIL'LD, CUYAHOGA COUNTY OHIO, THAT: .. . <br />Seco 1. It is hereby determined that the aggregate maximum amount <br />of the inactive daposits of public moneys of the Village of Mayfield for the <br />' period f rom August 23rd, 1961, to August 23rd, 1963, will be $20,000.00. <br />' Sec. 2, It is hereby estimated that the-maximum amount of active <br />i deposits subject to deposit thereon at any time during the period of said <br />' designation will be $125,000.00. <br />Sec„ 3, Such banlcs and institutions as may be eligible to become <br />public depositories f or funds of the Village of Mayfield shall make written <br />" application to the Council for such public deposits as they desire9 Such <br />application shall in all respects conf orm with the requirements of Seetion <br />135010 0f the Ohio Revised Code. <br />Sec. 4. The security to be furnished by publie depositories f or <br />the redpayment of public moneys under the control of this Council shall <br />conform with Section 135.16 of the Ohio Revised Codee <br />Sec. 5, This Couneil will designate public depositories f rom appli- <br />cations as provi.ded f or above at a meeting on August 21, 1961, <br />Sec. 6, xhis resolution shall take eff ect and be in force f rom and <br />af ter the earliest period allowed by l.awa <br />Adopted this 17th day of July, 1961, <br />- Attest: <br />i C SW-L) C <br />? PYayor - President oE Council