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CTTY f}F NQRTH 0I11uiTED
<br />By
<br />RLSOLU1IQTd NG. ? ? ,/ ?
<br />'S4LU1IOPi AUTHORILING SUBaiITT.7r'IQN Or SECUiiITIES
<br />?'+ `?, to secure ?he deposit of funds of the City of North Olmsted in 1'pie
<br />ITational City 73axik of Cleveland, under depository designe,tion terrninating, bursuant
<br />? to Section 135.11, Ohio Rievised Code, on Janu,-?:,ry l, 1962, certain obligations of the
<br />United States of America h?,,ve heretoiore been deposited and are nota or. deDosit with
<br />the P?ederal Heserve of Cleveland ior safekeej)ing, and
<br />,;HE1 '?A:i, said bank has rec±uested this city to authorize sa,id i'edera,l iL'eserve
<br />Ban}c of Clevela,nd to nerr:it substitution of securities in such sa.fekeepi.ng accaunt ?nd
<br />this city has dete-rrnined that s.ZClh authorization is feasible and -)roper on i:he teim,
<br />hereinafter set forth, -
<br />idG`ii, 1II:?i.EFY}RL;, BL i'1' by the Council of the Cit? oF ITorth Glmstec;.,
<br />State of G??io:
<br />Sec tion l: Tha.t the Federal Iteserve Bank o= Cleveland be and it is hereby
<br />authorized at wny time during the r;eriod ending J•,:r?.u:zry l, 1962, to ?,ermit r"'ne a?;_onal
<br />City Bank of Cleveland to wit:,drawLL any obligations of the Lni-ted States oF tlmerica now
<br />or herearter durin; the aforesaid Deriod on deposit ;ith the Federal ?'Leserve =-"ank of
<br />Cleveland i'or safekeeping for the account of said bank and this city, provided ?hat said
<br />bank sha11 at th.e sar:ie time deposit in such sarekeep-ing account uith tYie 10ecleral itesel•ve
<br />Bank of Clevela.nd in substitution far the obligations so -vritndraim cther obli?,<>.Lions c?-?
<br />tne United Sta.tes o.i Arnerica of a,principal amount not Zess t'ian the ob1i:;,_tions sa
<br />withdra;:m .
<br />Section 2: The `?reasurer (as deiined in Seccion 135.0I, Ohio Revised ?ode;
<br />is hereby authorized to certify a co_;y oF th.is resolution to the I{'ederal Reserve Ba?i
<br />of C1_evela,nd and to The T1ationa,l City Banlz, of Clevelanci.
<br />Seci;ion j: tThereiore, t'n,is resolution shall take iz,wzediate eif'ect irom r;.nd
<br />aiter i?s .,,issa?e, other::ise, at t'ne earli?st ?;eriod a=lotitiTed by l...w.
<br />PASSLD:
<br />r?? - : .
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<br />, ........? ...__.
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<br />L. i=i•. Christma,n, Clerk of Cou.ncil
<br />; 'D
<br />.? ?'/1i2.?C.?..?.t f
<br />?A ?
<br />. President of Co
<br />?rf'°`-
<br />Paul J . `Gareau, I-la,yor
<br />cEamlFzcATzcrr
<br />I, A1,IC:C DGLBLITS tMNEy Treasurer oi the City of "orth Glmsted, S;tate of Uhio,
<br />do hereby certify that I am th.e 'i'rea.surer of said city; thwt the foregoing is a true and
<br />correct copy of a resolution duly ?-)assed at a meeting of the Council of said city, dLUy
<br />called and held on XIL-C, / , I959, a,t which meeting a quorzm was present, by the
<br />affirmative vote of a majority of all members elected to said Council, and that the te:rm
<br />of the depository design,ation and atrard made by said Cou.ncil of and to 'Lhe ITwtional City
<br />Bank of Cleveland will expire on January l, 1962.
<br />I further certify that said subdivision has adopted a Cha,rter, and that a true
<br />copy of the provisions of such Charter respectan„ the deiDosit of the nublic moreys o? such
<br />city is hereto attached.
<br />WITTdESS a?y official signature and seal this da,y of December, 1959.
<br />i ' ,, ? •
<br />Treasurer - City of Zdorth 01
<br />ed, Ohio
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