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RESOLUTION N0.70B <br />By GTr1LKEFi <br />A RESOLUTION ESTIMATING THE MAXIMUM AMOUNT OF <br />INACTIVE AND ACTIVE DEPOSITS FOR THE NEXT TWO YEARS <br />WHEREAS, the present depository designation for the deposit of <br />the public moneys of the Village of Mayfield expires August 23rd, 1967, <br />and the Council is desirous of designating an official depository for <br />the period of August 23rd, 1967, to August 23rd, 1969, inclusive. <br />NO~+I, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE VILLAGE <br />OF HAYFIELD, CUYAHOGA COUNTY, OHIO, THAT: <br />Sec. 1. It is hereby determined that the aggregate maximum <br />amount of the inactive deposits of public moneys of the Village of <br />Mayfield for the period from August 23rd, 1967, to August 23rd, 1969, <br />will be $20,000.00. <br />Sec. 2. It is hereby. estimated that the maximum amount of <br />active deposits subject to deposit thereon at any time during the <br />period of said designation will be $125,000.00. <br />Sec. 3. Such banks and institutions as may be eligible to <br />become public depositories for funds of the Village of Mayfield shall <br />make written application to the Council for such public deposits as <br />they desire. Such application shall in all respects conform with the <br />requirements of Section 135.10 of the Ohio Revised Code. <br />Sec. 4. The security to be furnished by public depositories <br />for the repayment of public moneys under the control of this Council <br />shall conform with Section 135.16 of the Ohio Revised Code. <br />Sec. 5. This Council will designate public depositories <br />from applications as provided for above at a meeting on August 21, 1967. <br />Sec. 6. This resolution shall take effect and be in force <br />from and after the earliest period allowed by law. <br />Adopted this 17th day of July, 1967. <br />~~ <br />Mayor - President of Cou cil <br />Attest: <br />(SEAL) Clerk-Treasurer <br />