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<br />RESOLUTION N0. 88- 59 <br />INTRODUCED BY: Mayor Carmen and Council as a Whole <br />A RFSOLUTION <br />DFSIGNATING THS AMMITRUST COMPANY AS A <br />DEPOSITORY FOR ACTIVE FOEIDS OF MAYFIELD VILLAGS, OffiO, <br />FOR 'PHS TWO (2) YEAR PSRIOD COA7!ffidCIIdG WITH <br />JANUARY 1, 1989, AUTHORIZING A DEPOSITORY AGRS@ffidT <br />WITH SAID INSTITUTION AND DECLARIIdG AN EPSSIIiGENCY <br />BE IT RFSOLVED BY THS COUNCIL OF MAYFIffi.D VILLAGE, OHIO, THAT: <br />SECTION 1. The AmeriTrust Company is hereby designated as a depository <br />for active funds of Mayfield Village, Ohio, for the two (2) year period <br />commencing January 1, 1989, and terminating December 31, 1990. <br />SECTION 2. The Mayor and President of Council are hereby authorized and <br />directed to enter into a depository agreement for the two (2) year period with <br />The AmeriTrust Company. <br />SECTION 3. The Director o£ Finance is hereby authorized to deposit <br />active funds of the Municipality in The AmeriTrust Company when such deposit <br />is deemed to be advantageous to the Municipality. <br />SECTION 4. The Council finds and determines that all formal actions of <br />this Council relating to the adoption of this Resolution have been taken at <br />open meetings o£ this Council; and that deliberations of this Council and of <br />its committees, resulting in such formal action, took place in meetings open <br />to the public, in compliance with all statutory requirements including the <br />requirements of Section 121.22 of the Oh3o Revised Code. <br />SECTION 5. This Resolution is hereby declared to be an emergency measure <br />necessary for the immediate preservation of the health, safety and welfare of <br />the residents of Mayfield Village, Ohio, for the reason that the depository <br />agreement entered into hereunder will reap optimum benefits for funds invested <br />by the Municipality. It shall, therefore, take effect immediately upon the