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ORDINANCE NO. 81-19 <br />INTRODUCED BY: Council as a Whole <br />AN ORDINANCE DESIGNATING THE AMERITRUST COMPANY AS <br />A DEPOSITORY FOR ACTIVE FUNDS OF HAYFIELD VILLAGE, <br />OHIO, FOR THE TWO (2) YEAR PERIOD COMMENCING APRIL <br />28, 1981, AUTHORIZING A DEPOSITORY AGREEMENT WITH <br />SAID INSTITUTION AND DECLARING AN EMERGENCY. <br />WHEREAS, there is no banking institution located within the <br />corporate limits of Mayfield Village, Ohio; and <br />WHEREAS, the Council desires that the active account of the <br />municipality be placed with a banking institution; now, therefore <br />BE IT ORDAINED BY THE COUNCIL OF HAYFIELD VILLAGE, OHIO, THAT: <br />Section 1. The AmeriTrust Co. is hereby designated as a depository <br />for active funds of Mayfield Village, Ohio, for the two (2) year period <br />commencing April 28, 1981 and terminating April 27, 1983. <br />Section 2. The Mayor and Finance <br />and directed to enter into a depository <br />(2) year period with the AmeriTrust Co. <br />Section 3. The Finance Director <br />active funds of Mayfield Village, Ohio, <br />deposit is deemed to be advantageous to <br />s Director are hereby authorized <br />agreement for the aforesaid two <br />is hereby authorized to deposit <br />in the AmeriTrust Co. when such <br />th.e municipality. <br />Section 4. This Ordinance is hereby declared to be an emergency <br />measure immediately necessary for the preservation of the health, safety <br />and welfare of the residents of Mayfield Village, Ohio, in that the <br />depository agreement entered into hereunder will reap optimum benefits <br />for monies invested by the municipality. This Ordinance shall therefore <br />take effect immediately upon passage by the affirmative vote of not less <br />than five (5) members elected to Council and approval by the Mayor or <br />otherwise at the earliest time allowed by law. <br />-.~ <br />A an G.JBennett, Council President <br />PASSED: April 27_,---1981 <br />~„ ~' /J t~ <br />APPROVED : ;-~ ~ ~~ ~~-~~.-,~~._.. P G ~'I 7 <br />Rob~:rt._G . Beebe , Mayor Dat <br />e <br />APPROVED AS TO FORM: <br />Guerin L. Avery, Law irector <br />~~ ~ <br />ATTEST: ~~~ '~' ,~ <br />Eloise Maynard, C~` erk of Council <br />