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ORDINANCE Np. 147 <br />` - BY DtIR. . ?? <br />gN OR132N.flNCE A.CCEPTING THE BID OF CF;IVTRBL <br />UNTTED NATIONAL BANK OF. CLEVELdND FOR A <br />: CONTRACT : AS DFL'OSITARY OF THE PUBLIC FU'NDS. ?HEREIl,S, this Council has heretofore directed the <br />Village Glerk to advertise for bids for a contract -uith the Village for the deposit <br />of the pubZic funds9 and <br />VVHEREASr due advertisement has been made according to <br />Iaw' anal. , <br />' ae <br />"?' W-HEREA.S, Central United National Bank of Cleveland has <br />offersd to enter i.nto a contraet wi.th the Village to act as depositary and has <br />offered to pay interest at the rate of one per centum (1%) per annum computed on <br />daily balances and ereditsd monthl;p and to deposit as security for saiel public <br />f"unda first mortgages in accordance with section 2288 1 of the GeneraZ Code of <br />Ohio to assure the re-gaymen.t of said deposits on demand' and <br />MUR.FUS., said bid submitted by Central United National <br />Bank of C1eveland is the highest and best bid received by this Council therefor; <br />NO?, THEREFORE, BE IT ORD.AINID by the Council: of the <br />'? Village of Nfa.yfield, Cuyahoga County, Ohio, that: <br />Section I. The bid of Central United National Bank of <br />Cleveland for.a contract with this Village for the degosit of public funds upon <br />the terms and conditions hereinabove.set forth be' and the same hereby is, ac- <br />cepted. <br />Saction 2. The Mayor and Village Clerk be, and t,hey <br />hereby are, authorized and instrzeteri to enter into a contract with said Central <br />IInited National Bank for a period of three (3) years for the deposit of public <br />funds in accorda.nce -with the provisions-of the offer Submitted by said bank. <br />Section 3. The Vill:age T"reasurer be, and he hereby is, <br />directed to cause the public funds of the Village to be deposited in said Central <br />IInited National Bank of Clevelanc7. -when such contract has been consummated. <br />Section 4. This Ordinance is hereby declared to be an <br />emergency ordinance necessary for the immer3.iate preservation of the public health, <br />safety and conveniemce for reasons apparent from the contents of this ordinance. <br />Passed the 21st day of Augttst, A. D. 1933. . <br />Attest; <br />? P Mayor e President of Council. <br />4tt 99 <br />(SEAL) Cle-rk.^