12-93 Resolution
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RECORD OF ORDINANCES
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Dayton Legal Blank Co. Form No. 30043
12-93 (Amended)
Ordinance No. Passed . u 19u
A RESOLUTION EXTENDING THE CITY OF DUBLlN'S
DESIGNATION OF FINANCIAL INSTITUTIONS AS
PUBLIC DEPOSITORIES AS PROVIDED FOR BY
RESOLUTION NO. 15-91
WHEREAS. Section 135.01 (L) of the Ohio Revised Code provides that any
municipal corporation which has adopted a charter may by ordinance set forth
special provisions with respect to the deposit or investment of its public
monies; and
WHEREAS. the electors of the City of Dublin have adopted a charter, and said
charter provides that the Treasury Investment Board shall establish directions
for the investment of interim and inactive monies of the Municipality; and
WHEREAS. Resolution 15-91 authorized that the active funds depository
designation of the City of Dublin be awarded for the two-year period
commencing November 1, 1991 to Bank One, Columbus, NA; and
WHEREAS. applications for interim deposits were received from the following
financial institutions up to the following amounts:
Banc Ohio National Bank* $20,000,000
Bank One, Columbus 40,000,000
Fifth Third Bank 15,000,000
Huntington National Bank 20,000,000
State Savings Bank 5,000,000
Star Bank, N.A. 20,000,000
Society Bank 20,000,000
* - Name recently changed to National City Bank
WHEREAS. Resolution No. 15-91 authorized that the depository agreement
contain a renewal clause that may be used by the City to extend the depository
designation period for one (1) additional year.
NOW THEry~ORE. BE IT ORDAINED by the Council of the City of Dublin, State
of Ohio, ~ of the elected members concurring that:
Section 1. That the active funds depository designation for the City of Dublin
be extended for one (1) additional year commencing on November 1, 1993.
Section 2. That the investment policy as approved by Resolution No. 15-91
remain in effect during the one (1) additional year commencing on November Q)
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Section 3. That the Director of Finance is authorized and directed to enter intoi .~
the necessary agreements to implement this policy and to invest public monies :- ~
pursuant to and in compliance with the terms of such policy. ; ~
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Section 4. That the Director of Finance shall be relieved from any liability for --S .::
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the loss of any public monies deposited or invested pursuant to and in~ ~
compliance with such policy. I ~
Section 5. That this Resolution shall take effect and be in force from and after' . i
the earliest period allowed by law. '" V>
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Passed this / '17'-' day of ~, 1993. -I4
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<- Ayor - Presiding Officer i' ~
v/ ATTEST: jg ~
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Clerk of Council
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MEMORANDUM
TO: Dublin Council Members
FROM: Timothy C. Hansley, City Manager
SUBJECT: Extension of Depository Designation
DATE: July 26, 1993
INITIATED BY: Marsha I. Grigsby, Director of Finance \~~
In October 1991, City Council adopted Resolution No. 15-91 designating Bank
One, Columbus as the City's depository for active funds for a period of two (2)
years commencing on November 1, 1991. The Resolution also provided that
the depository agreement contain a renewal clause that would allow the City
to extend the depository period for one (1) additional year. The Administration
is satisfied with service provided by Bank One and is requesting that City
Council approve the attached Resolution to extend the depository designation
for a period of one (1) year.
It is the Administration's intent to prepare a Request For Proposal (RFP) prior
to recommending a depository designation for the period commencing
November 1, 1994. Bank One, Columbus was selected as the preferred
depository as a result of a similiar process two (2) years ago. It is our inent to
modify the RFP to require the financial institutions to address areas that can be
tied to our economic development plan, look at alternative fee methods for
Visa/MasterCard and to highlight banking services that are available and not
currently utilized by the City.
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