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Resolution No.�s <br />By Mr. <br />A RESOLUTION <br />DESIGNATING THE BANK OF BEREA COMPANY AS DEPOSITORY FOR <br />THE. ACTIVE FUNDS OF. THE VILLAGE OF NORTH OLMSTED. <br />MEREAS.The Bank of Berea Company has made <br />application.to act.as depository for the active funds <br />of the Village of North Olmsted, and <br />VMEREAS the Village has no inactive funds and <br />no interest is being paid on active funds, and <br />WHEREAS this Council believes it would be to the <br />best interests of the Village to name The Bank of Berea <br />Company as depository of the active funds of the Village <br />of North Olmsted, and <br />WHEREAS this Council estimates that the aggregate <br />maximum amount of public funds subject to its control <br />during the next two years will never exceed <br />now, therefore, <br />BE IT RESOLVED by the Council of the Village of <br />North Olmsted,, Ohio; <br />Section 1. That The Bank of Berea Company be <br />and it is hereby named.as depository for the active funds of <br />the Village of North Olmsted for a period of two years <br />beginning on'the y day of January, 1948. , <br />Section-2. That The Bank of Berea Company, as <br />depository for such funds, shall deposit in a safety deposit, <br />box under the control of the Village, securities as required <br />by the statute of the State of Ohio guaranteeing the payment <br />of the funds deposited by the Village. <br />Section 3. This resolution is hereby declared to <br />be an emergency measure, the emergency being that it is <br />necessary for the immediate preservation of public welfare, <br />peace, safety and health that this resolution be passed at <br />once, and shall take effect and be in force from and after <br />its passage. <br />Passed; January 6, 1948. <br />-e Mavor <br />0 <br />r <br />0 <br />