CITY OF SALEM
RESOLUTION NO. 990720 - 50 INTRODUCED BY: MRS. COPE
First Reading _______________
Second Reading _______________
Third Reading _______________
BEING A RESOLUTION DESIGNATING AN ADDITIONAL FINANCIAL INSTITUTION AS DEPOSITORY FOR FUNDS OF THE CITY OF SALEM, OHIO, PURSUANT TO CHAPTER 135 OF THE OHIO REVISED CODE.
WHEREAS, the City of Salem receives revenue from taxes and other sources, and;
WHEREAS, it is necessary that the City of Salem place these funds on deposit with a reputable financial institution.
NOW THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF SALEM, STATE OF OHIO:
SECTION 1:
That National City Bank having offices at National City Center, 1 Cascade Plaza, Akron, Ohio 44308 is hereby designated as an additional authorized depository for funds of the City of Salem, Ohio.
SECTION 2:
This Council finds and determines that all formal actions of this Council concerning and relating to the adoption of this ordinance or resolution were adopted in an open meeting of this Council and that all deliberations of this Council and of any of its committees that resulted in those formal actions were in meetings open to the public in compliance with the law.
SECTION 3:
That this ordinance shall go into effect at the earliest possible time allowed by law.