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RESOLUTION N0. 83-10 . <br />INTRODUCED BY: Mayor Robert G. Beebe and Council as a Whole <br />A RESOLUTION DESIGNATING CERTAIN <br />FINANCIAL INSTITUTIONS AS <br />DEPOSITORIES FOR INTERIM FUNDS OF <br />MAYFIELD VILLAGE, OHIO, FOR THE TWO <br />YEAR PERIOD COMMENCING WITH <br />JANUARY 1, 1983, AUTHORIZING <br />DEPOSITORY AGREEMENTS WITH SAID <br />INSTITUTIONS AND DECLARING AN <br />EMERGENCY. <br />BE IT RESOLVED BY THE COUNCIL OF MAYFIELD VILLAGE, OHIO, THAT: <br />Section 1. The AmeriTrust Company, National City Bank, <br />Union Commerce Bank, Central National Bank, Society National Bank, <br />TransOhio Savings & Loan, Cuyahoga Savings Association, State Savings <br />& Loan, Broadview Savings, Continental Federal Savings, Cardinal <br />Federal Savings, Ohio Savings, First Federal Savings and Horizon <br />Savings are hereby designated as depositories for interim funds of <br />Mayfield Village, Ohio for the two (2) year period commencing January <br />1, 1983 and terminating December 31, 1984. <br />Section 2. The Mayor and Director of Finance are hereby <br />authorized and directed to enter into depository agreements with the <br />aforesaid institutions for the two (2) year period. <br />Section 3. The Director of Finance is hereby authorized <br />to deposit interim funds of the Municipality in any of the aforesaid <br />financial institutions when such deposits are deemed to be <br />advantageous to the Municipality. <br />section 4. That the Council finds and determines that all <br />formal actions of this Council relating to the adoption of this <br />Resolution have been taken at open meetings of this Council; and that <br />deliberations of this Council and of its committees, resulting in such <br />formal action, took place in meetings open to the public, in <br />compliance with all statutory requirements, including the requirements <br />of Section 121.22 of the Ohio Revised Code. <br />Section 5._ This Resolution is hereby declared to be an <br />emergency measure immediately necessary for the preservation of the <br />health, safety and welfare of the residents of Mayfield Village, Ohio, <br />for the reason that the depository agreements entered into hereunder <br />will reap optimum benefits for funds invested by the Municipality. <br />It shall therefore take effect immediately upon passage by the <br />affirmative vote of not less than five (5) members elected to Council <br />