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RESOLUTION NO. 2000-17 <br />INTRODUCED BY: Mayor Bruce G. Rinker and Council as a Whole <br />AN EMERGENCY RESOLUTION <br />DESIGNATING CERTAIN FINANCIAL INSTITUTIONS A5 <br />DEPOSITORIES FOR INTERIM FUNDS OF MAYFIELD VILLAGE, OHIO <br />FOR THE TWO (2) YEAR PERIOD CONiMENCING WITH <br />JANUARY 1, 2001, AUTHORIZING DEPOSITORY AGREEMENTS <br />WITH SAID INSTITUTIONS <br />BE IT RESOLVED BY THE COUNCIL OF MAYFIELD VILLAGE, OHIO, THAT: <br />SECTION 1. FirstMerit Bank, NA., Bank One, NA, National City Bank, NA, FirstStar <br />Bank, 1V.A., Keybank NA, Fifth-Third Bank, Northeastern Ohio, The Huntington National Bank <br />and STAR Ohio are hereby designated as depositories for interim funds of Mayfield Village, Ohio, <br />for the two (2) year period commencing 7anuary 1, 2001, and terminating December 31, 2002. <br />SECTION 2. The Mayor and President of Council are hereby authorized and directed to <br />enter into depository agreements with the aforesaid institutions for the two (2) year period. <br />SECTION 3. The Director of Finance is hereby authorized to deposit interim funds of the <br />Municipality in any of the aforesaid financial institutions when such deposits are deemed to be <br />advantageous to the Municipality. <br />SECTION 4. The Council finds and determines that all formal actions of the Council <br />relating to the adoption of this Resolution have been taken at open meetings of this Council; and <br />that deliberations of this Council and of its committees, resulting in such formal action, took place <br />in meetings open to the public in 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 emergency measure necessary <br />for the immediate preservation of the health, safety and welfare of the residents of Mayfield <br />Village, Ohio, for the reason that the depository agreements entered into hereunder will reap <br />optimum benefits for funds invested by the Municipality. It shall, therefore, take effect <br />immediately upon passage by the affirmative vote of not less than five (5) members elected to <br />Council and approval by the Mayor or otherwise at the earliest time allowed by law. <br />? <br />[ARQUARDT <br />President <br />First Reading: November 20 , 2000 <br />Second Reading: suspended 2000 <br />Third Reading: uspen e , 2000