06-81 Resolution
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RECORD OF RESOLUTIONS
~I Form No. 6233-A
National Graphics Corp., Cols., O. ~ n ,_,~
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Resolution No.__tJ__,__~_~,L Passed__ __ ______ _n_nnnn_ n_____n_____un_n_19 __u_n_
RESOLUTION DESIGNATING FINANCIAL INSTITUTION (S) AS
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PUBLIC DEPOSITORY (S).
[ WHEREAS, applications for active deposits of the Village of Dublin, Ohio,
have been received from BancOhio National Bank, the Ohio State Bank, and the
Huntington National Bank, each of which has agreed to accept all or any part
of the active deposits; and,
WHEREAS, applications for inactive and/or interim deposits of the Village of
I Dublin, Ohio, have been received from the following financial institutions,
I each of which has agreed to accept all or any part of the inactive and/or
interim deposits at current market rates when said money becomes available.
Dollar Savings Association, up to $1,000,000.00
Ohio Federal Savings & Loan Association, up to $100,000.00
Freedom Federal Savings & Loan Association, up to $2,000,000.00
State Savings Company, up to $500,000.00
BancOhio National Bank, up to $500,000.00
Ohio State Bank, up to $500,000.00
Huntington National Bank, up to $3,000,000.00
r Nf.'li,THEREFORE, BE IT RESOLVED, by the Council of the Village of Dublin,
State of Ohio, '1 of the elected members concurring:
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SECTION 1. That the first $25,000.00 of the active funds of the Village of
Dublin be awarded to the Ohio State Bank, and the remaining $25,000.00 be
awarded to and divided among the BancOhio National Bank, the Ohio State Bank,
and the Huntington National Bank in proportion to their award quotas of~6,
I~ %, & I~ %, respectively, as provided in Section 135.04 of the OhlO
Revised Code, for the two-year period commencingCf\A.~t\ c;;) \q~ \ ,
1981, upon executing and delivering the security required by law.
I SECTION 2. That the interim deposits, whenever made, shall be awarded by the
Finance Director as interim monies become available for such fixed maturities
not less than 30 days nor more than one year as she may determine advisable at
the time funds become available, and to such of the eligible institutions who
made applications and offer the highest interest rate for each maturity so
I selected. In the event more than one of said eligible institutions offer the
same interest rate, the Finance Director shall, if feasible, divide the
award between such eligible institutions in substantially equal payments or
amounts. The Finance Director shall have and exercise the authority and
descretion granted to her by Section 135.09 of the Ohio Revised Code. Nothing
herein contained shall jimit the Finance Director in the investment of interim
monies pursuant to the authority granted her by Section 135.14 of the Ohio
Revised Code.
C SECTION 3. This Resolution shall take effect and be in force immediately
upon its passage.
Passed this 2 Ad- day of Jr! (7/1~ , 1981.
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Mayor-Presiding Of icer
ATTEST: