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<br />RESOLUTION NO. 90-70 <br />INTRODUCED BY: Mayor Carmen and Council as a Whole <br />A RESOLUTION <br />DESIGNATING THE AMERITRUST COMPANY AS A <br />DEPOSITORY FOR ACTIVE FUNDS OF HAYFIELD VILLAGE, OHIO <br />FOR THE TWO (2) YEAR PERIOD COMMENCING WITH <br />JANUARY 1, 1991, AUTHORIZING A DEPOSITORY AGREEMENT <br />WITH SAID INSTITUTION AND <br />DECLARING AN EMERGENCY <br />BE IT RESOLVED BY THE COUNCIL OF HAYFIELD VILLAGE, OHIO, THAT: <br />SECTION 1. The AmeriTrust Company is hereby designated as a <br />depository for active funds of Mayfield Village, Ohio, for the <br />two (2) year period commencing January 1, 1991 and terminating <br />December 31, 1992. <br />SECTION 2. The Mayor and President of Council are hereby <br />authorized and directed to enter into a depository agreement for <br />the two (2) year period with the AmeriTrust Company. <br />SECTION 3. The Director of Finance is hereby authorized to <br />deposit active funds of the Municipality in the AmeriTrust <br />Company when such deposit is deemed to be advantageous to the <br />Municipality. <br />SECTION 4. The Council finds and determines that all formal <br />actions of this Council relating to the adoption of this <br />Resolution have been taken at open meetings of this Council; and <br />that deliberations of this Council and of its committees, <br />resulting in such formal action, took place in meetings open to <br />the public, in compliance with all statutory requirements <br />including the requirements of Section 121.22 of the Ohio Revised <br />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 agreement entered into <br />hereunder will reap optimum benefits for funds invested by the <br />Municipality. It shall, therefore, take effect <br />