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1973-008 Ordinance0RDINAN¢~ N0. '-1973 - 8 " OFFERED BY :'Mayor Hartlaub DESIGNATING AND APPOINTING THE FIRST NATIONAL BANK OF AKRON AS VILLAGE DEPOSITORY; ESTiMATiNG AMOUNT 0F PUBLIC MONEY TO BE DEPOSITED AND AUTHOR- IZING THE MAYOR AND Finance DirectOr TO EXECUTE MEMORANDUM OF DEPOSITORY OBLIGATION. WHEREA$~ T~ Fim$~c Na'~ional Bank of Ak~on~ Fa~'~ Branch, has made application t~ the C~un~il ~f ~he. '~ty .of Faiz~- · lawn for the active deposit of publi~ funds, in compliance with the Unifomm Depository Ac~ of 0n~o, and ' . WHEREAS, %he swo. mn financial s'~a'~emen% of said bank a~ached ~o ~he app!iea'~ion shows: , Capi~cal Funds 30% Deposit Liabilities $49,480,863..41 · '$159., 694,191.40 WHEREAS~ i% is deemed fora %he bes'~ public in~¢eres'~ ~o a¢¢'ep'~ ~h'e offe~ of '~he Fi~s'~ Na'~ional Bank of Ak~on. BE IT ENACTED 'BY-'THE COUNCIL OF THE CITY OF 'f ~ : lawn, Summit County ~ Ohio- Sec=ion 1. See%ion 2. That the Fi~sT National Bank of Akron~ Fai~~- lawn Branch~ be and it is he~eby designated as a depository for The public funds of City of Faimlawn, Sun~ni'~ County ~ 0bio, fo~~ a Term of '~wo years beginning January' 1, 1973 and ending December 31~ 1974. ,, Thane %he pmobabla amoun'~s of money 'to be deposited are a minimum of Ten Thousand Dollams ($10 ~000.00 and '~he maximum amount Five Hundmed Thousand ($$00,000.00) Thai the Mayor and Finance Direct~ of the city are hereby authorized to execute on behalf of the City_ a memor&ndum of deposi~ '~ ~ory obligation in compliance wi~h ~he Unifo~m Depository A¢'"c of Ohio. S~¢~ion ~. Sec%ion S. Tha'~ %he Clamk is hemeby di~e¢%ed %o ce~%ify copies of "chis 0mdinanca '~o %he National Bank of Aka-on and %he \F'i'nance Director · · Tha~ %his o~dinanee shall be in full fomce and effae~ f~o~u and af%~ '~he camlics~c period allowed by law. · Passed .January 22, 1973 , : , William D. Reed, Clerk of Council' , · .7 Y~6 p Sansonetti President of Council.. ~rtlaub, Mayor Approved as to form: Dou~~~. Z~o~k, -'Di recto r of Law 1973 - 8