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RESOLUTION NO. 95-04 <br />? INTRODUCED BY: Mayor Bruce G. Rinker and Council as a Whole <br />AN EMERGENCY RESOLUTION <br />DESIGNATING BANK ONE AS AN ADDITIONAL <br />DEPOSITORY FOR INTERIM FUNDS OF MAYFIELD VILLAGE, OHIO <br />FOR THE TWO (2) YEAR PERIOD COMMENCING WITH JANUARY 1, 1995 <br />BE IT RESOLVED BY THE COUNCIL OF MAYFIELD VILLAGE, OHIO, THAT: <br />SECTION 1. Bank One is hereby designated as an additional <br />depository for interim funds of Mayfield Village, Ohio, for the two <br />(2) year period commencing January 1, 1995, and terminating <br />December 31, 1996. <br />SECTION 2. The Mayor and President of Council are hereby <br />authorized and directed to enter into a depository agreement with <br />the aforesaid institution for the two (2) year period. <br />SECTION 3. The Director of Finance is hereby authorized to <br />deposit interim funds of the Municipality in the aforesaid <br />financial institution when such deposits are deemed to be <br />advantageous to the Municipality. <br />SECTION 4. The Council finds and determines that all formal <br />actions of the Council relating to the adoption of this Resolution <br />have been taken at open meetings of this Council; and that <br />deliberations of this Council and of its committees, resulting in <br />such formal action, took place in meetings open to the public in <br />compliance with all statutory requirements including the <br />requirements of Section 121.22 of the Ohio Revised Code. <br />SECTION 5. This Resolution is hereby declared to be an <br />emergency measure necessary for the immediate preservation of the <br />health, safety and welfare of the residents of Mayfield Village, <br />Ohio, for the reason that the depository agreements entered into <br />hereunder will reap optimum benefits for funds invested by the <br />Municipality. It shall, therefore, take effect immediately upon <br />passage by the affirmative vote of not less than five (5) members <br />elected to Council and approval by the Mayor or otherwise at the <br />earliest time allowed by law. <br />0?S .;z t 2 5 -. <br />MA K FIX3.,., R, <br />Council President <br />First Reading: March 20 , 1995 <br />Second Reading: Suspended , 1995 <br />Third Reading: Suspended , 1995