CITY OF SALEM
RESOLUTION NO. 991019 - 69 INTRODUCED BY:
First Reading _______________
Second Reading _______________
Third Reading _______________
BEING A RESOLUTION ESTIMATING THE PROBABLE AGGREGATE MAXIMUM AMOUNT OF ACTIVE FUNDS AND INACTIVE FUNDS TO BE DEPOSITED BY THE COUNCIL AND AUTHORIZING AWARDS.
WHEREAS, The General Assembly has enacted the Uniform Depository Act, covered by Revised Code section 135.01 to 135.21, inclusive, and this Board is desirous of complying with the provisions thereof.
NOW THEREFORE, BE IT RESOLVED, BY THE COUNCIL OF THE CITY OF SALEM, STATE OF OHIO:
SECTION 1:
That this Council estimates the probable aggregate maximum amount of public funds to be deposited as active funds to be $__________ and the probable maximum amount of public funds to be deposited as inactive deposits at $____________.
SECTION 2:
That eligible institutions desiring to be depositories of such active and inactive funds shall file an application in writing with the Clerk of this Council in accordance with section of Ohio Revised Code and set forth in such application the contemplated security for such deposits.
SECTION 3:
That the designation of such depository for active and inactive funds will be made at a meeting of the Council of the City of Salem, Ohio, on __________, in the Chambers of this Council at 231 S. Broadway, Salem, Ohio, and awards so made for active and inactive funds shall be for a two-year period from ______________.
SECTION 4:
That notice of the passage of this resolution shall be given aby publication as provided by the law.
SECTION 5:
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.