04-87 Resolution, 02-02-1987RECORD OF RESOLUTIONS
National Graphics Corp., Cols., O. 7yw n~~~ Form Ho. 6233-A
Resolution :\;-. 04-87 1'ussed____________________________ 19______--
RESOLUTION ESTIMATING AGGREGATE
MAXIMUM AMOUNT OF PUBLIC FUNDS
TO BE AWARDED AS ACTIVE DEPOSITS
AND INTERIM DEPOSITS.
BE IT~RESOLVED by the Council of the Village of Dublin, State of Ohio,
of the elected members concurring:
Section 1. That the estimated aggregate maximum amount of public funds
subject to the control of said Council to be awarded to an eligible
financial institution on deposit as Interim deposits at any time during
the period of designation is $5,000,000.00, and the probable maximum
amount of public monies to be awarded and be on deposit as Active
deposits at any time during the period of designation is $100,000.00.
Section 2. That notice is hereby given that the period of designation
for depositories shall be from March 1, 1987, to March 1, 1989.
Section 3. That notice is hereby given that the designation of the
Official Depository(s) shall be made on March 2, 1987, during a regular
meeting of the Council of the Village of Dublin, Ohio.
Section 4. That this Resolution be and the same hereby is, declared to
be an emergency measure necessary for the immediate preservation of the
public peace, health and safety of the residents of the Village of
Dublin, Ohio, and for the further reason that these estimates must be
made prior to designating Financial Institutions as Public Depositories,
and that this Resolution shall take effect and be in force immediately
upon its passage.
Passed this 2nd day of February - - ~5 1987.
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G% . f
Mayor - residing Officer
Attest:
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Clerk of Council
Sponsor: Finance Director
hereby certify that copies of this Ordinance/Resolution
were posted in the Village of Dublin in accordance with
Section 731.25 of the 04io Revised Code.
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Cisrk of Council _
MEMORANDUM
T0: All Council Members
FROM: Nan Prushing, Finance Director
SUBJECT: Award of Depository for Village Accounts - Resolution No. 04-87
DATE: February 2, 1987
Attached is a copy of a resolution estimating the amount of funds available for
active deposits (checking account) and interim deposits (investments for less than
one year). I am not estimating any funds for inactive deposits (investments
between one and two years) because that has not been recommended and the Village
is much more limited on these types of investments.
I would appreciate Council considering this for passage as an emergency at the
February 2nd meeting so that I can send notices to financial institutions giving
them ample time to respond and allowing us to review their applications prior
to the meeting on March 2nd. I would like to request a joint meeting of the
Finance Committee and Treasury Investment Board between February 20th and February
26th to review the applications and prepare an ordinance designating depositories
for inclusion in the packet for March 2nd.
NJP:fmu