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p ~;_ ... <br />., e ,..~ ~; J , ,, <br />~~rr//~~~~ RIso1.uT1oN ~ ~ ~ ~ 8. <br />AUTHORIZINQ SUBSTITUTION OF SECURITIES <br />WHEREAS, TO SECURE THE DEPOSIT OF FUNDS OF CITY OF NORTH ULMSTED <br />MANE OF SUBDIVISION <br />IN THE NAT40NAL CITY BANK OF CLEVELAND, uNOER DEPOSITORY DESIGNA- <br />TION TERtMlNATING, PURSUANT TO ti.C. SECTION 229-~~ cREViSED CODE SECTION 135.11) ON <br />JANUARY ~, 195$ ~ CERTAIN OBLIGATIONS OF THE UNITED STATES OF AMERtGA HA YE <br />HERETOFORE B!<EN DEPOSITED ANO ARE NOW ON DEPOSIT WITH THE FEDERAL RESERVE SANK OF <br />CLEVELAND FOR SAFEKEEPING AND <br />WHEREAS, SAID BANK HAS REQUESTED THIS SUBDIVISION TO AUTHORIZE SAtO FEDERAL <br />RESERVE BANK OF CLEVELAND TO PERb1T SUBSTiTUT10N OF SECURITIES IN SUCH SAFEKEEPING <br />ACCOUNT AND THIS SUBOIVtS10N HAS DETERb1NE0 THAT SUCH AUTHORIZATION IS FEASIBLE AND <br />PROPER ON THE TERMS HEREINAFTER SET FORTH, <br />NOW, TI~IEREFORE, ~ 1T RESOLVED BY THE C©UNCiL of THE <br />GOVERNING BODY <br />CITY OF NORTH OLMSTED , STATE OF OHIDi <br />NAbE OF SUBDIVISION <br />SEGTt0i1 ~. THAT THE FEDERAL RESERVE BANK OF CLEVELAND BE ANO tT !S HERESY <br />AUTHORIZED AT ANti' TIME DURING THE PER100 ENDING JANUARY 1, 19,8 TO PERMIT <br />.r w.rrrrrrrri ~.~~r <br />THE NATIONAL CIT'4° BANK OF CLEVELAND TO WITHDRAW ANY OBLIGATIONS OF THE UNITED STATES <br />OF AMERICA NOW OR HEREAFTER DUR~LNG THE AFORESAip PERIOD ON DEPOSIT WITH THE FEDERAL <br />RESERVE BANK OF CLEVELAND FOR SAFEKEEPING FOR THE ACCOUNT OF SAID BANK AND THIS SUt'i• <br />pIVIS10N, PROVIDED THAT SAID HANK SHALL AT THE SAME TIME DEPOSIT iN SUCH SAFEKEEPING <br />ACCOUNT WITH THE FEDERAL RESERVE BANK OF 4LEYELAND IN $t1BSTiTUT10N FOR THE DBIIGA- <br />TtONS SO WITHDRAt~N OTHER OBLIGATIONS OF THE UNITED STATES OF AMERICA OF A PRINCIPAL <br />AMOUNT NOT LESS F'HAN THE 09LIGATiONS SO WITHDRAWN. <br />SECTION! 2. THE TREASURER ~AS DEFINED iN OHiD QENERAL CODE SECTION ~~-1 <br />AND REVISED CODE SECTION 135.01} IS HEREBY AUTHORIZED TO CERTIFY A COPY OF THIS RESO- <br />LUTION TO THE FEDERAL RESERVE BANK OF GLEVELAND ANO TO THE NATIONAL CITY BANK OF <br />CLEVELAND. <br />CLE ,p ~ RESIDI FFiCER <br />CERTIFICATION <br />~a..~.. <br />t _ __. <br />NAME OFFICIAL TITLE <br />CITY OF NORTH OLMSTED , STATE OF yHtO, DO HEREBY CERTIFY THAT I AM <br />NAME OF 3UBOIYISION <br />THE TREASURER OF SAlO SUBDlYISIONj THAT THE FOREGOING i3 A TRUE AND CORRECT COPY OF A <br />RESOLUTION DULY PASSED AT A MEETING OF THE COUNCIL OF SAID SUB- <br />GOVERNING BOGY <br />DIVISION, DULY CALLED AND HELD ON W ~~w~~YO ,~14S~p At WHICH MEETING A QUORUM <br />WAS PRESENT, BY THE AFFIRMATIVE VOTE OF A MAJORITY OF ALL MEMBERS ELECTED TO SAID <br />• OUNCIL ; AND THAT THE TERM OF THE DEPOSITORY DESIGNATION AND AWARD <br />GOVERNING BODY <br />bAOE 8Y SAip COUNCIL OF AND TO THE NATIONAL CITY BANK OF CLEVELAND <br />GOVERNING BODY <br />WILL EXP 1 RE ON JANUARY 1~1~8 <br />I FURTHER CERTIFY THAT SAID SUBDIVISION HA5 NOT ADOPTED A CHARTER, AMO <br />THAT A TRUE COPY OF THE PROVISIONS OF SUCM CHARTER ~tF ANY RESPECTING THE DEPOSIT <br />OF THE PUBLIC MONEYS OF SUCH SUBOIViSiOh IS HERETO ATTACHED. <br />W i TNESS by OFF IC I Al S i GNATURE AND SEAL TH i S ~ o DAY OF /lJ~ ~ °1' J J~ <br />