1971-015 OrdinanceORDINANCE NO. 1971-15
OFFERED BY' MR. FERRY
DESIGNATING AND APPOINTING THE AKRON
NATIONAL BANK AND TRUST COMPANY AS A
VILLAGE DEPOSITORY FOR THE YEAR 1971
FOR THE DEPOSIT OF FUNDS OF THE BOND
RETIREMENT FUND OF THE"VILLAGE OF FAIR-
LAWN, OHIO.
WHEREAS, the Akmon National Bank and Tmust Company
has made applica'tion ~o bo the deposi'l:o~,y fo~ funds of 'the Bond Re-
tirement Fund of the Village of Fai~lawn.
WHEREAS, said bank in all mespects complies with the
public deposito~',y r'ogula'tions of the $~ate of Ohio.
WHEREAS, ~aid bank is the designated payom on all
assessment bonds issued by the Villago of Fai~',lawn.
BE IT ORDAINED by the Council of the Village of Faire-
lawn, Summi~ County~ Ohio'
Section 1.
Tha~ ~he Akmon National Bank and Tmus t Company
of Akmon, Ohio~ be and they ame hemeby designated
as the official depositomy fora the Village of
Faimlawn fora funds of the Bond Retimement Fund
of the Village of Faimlawn~ Ohio, fora the yearn 1971.
Section
That said designated depository shall place in
escrow with the Federal Reserve Bank of Cleveland
such funds or securities to ~his account to assure
the safety of such funds as are required by the
laws of the State of Ohio.
Section 3.
Section
That the Mayo~ and Clemk-Tmeasumem ame hemeby
authorized to execute any contmact or contracts
~'equiI, ed by law on behalf of 'the Village.
That this omdinanee shall be in full fomce and
effect fmom and aftem the eamliest pemiod allowed
by law.
Passed'
Attest ·
I.~ William F. Reed, Clemk-TPeasu~e~ of the Village of Faimlawn,
Summit County, Ohio~ do her, eby cez'tify that the for'egoing 0~"dinance
~o. 11t71--15 w~s duly and ~'egular, ly paosed by Council at a me~t:i, ng og
the ~h day of Januamy, 1971. .~,