1972-021 OrdinanceORDINatE NO. 1972 - 21
Offered by Mayor Hartlaub
DESIGNATING THE AKRON NATIONAL BANK AND TRUST CCEPANY AS DEPOSITORY OF FUNDS
OF THE BOND RETIRE}iENT FUND.
WHEREAS, The Akron National Bank and Trust Company has been the depository
for funds of the Bond Retirement Fund of the Village and City of Fairlawn;
and
WHEREAS said bank in all respects complies with the public depository
requirements of the State of Ohio; and
WHEREAS said bank is desi§nated payor on all assessment bonds issued by this
municipality; now, therefore,
BE IT ENACTED BY %tie COUNCIL OF THE CITY OF FAIRLAWN:
Section 1. That The Akron National Bank and Trust Company of Akron, Ohio
" is hereby desisnated as the official depository for the City
of Fairlawn for funds of the Bond Retirement Fund for the
year 1972.
Section 2. That said depository shall place in escrow with the Federal
Reserve Bank of Cleveland such funds or securities to this
account to assure the safety of such funds as are required
by the laws of the State of Ohio.
Secion 3,
That the Mayor and Director of Finance are hereby authorized
to execute any contracts required by law in connection here-
with on behalf of the City.
Passed
JAN 3 197Z
William F. Reed, Clerk of Council
Approved:
J ~o~',~h ){~rc laub, Mayor
1972
~;~/eph/P-:' Sansofiett{'
President: of ¢oun¢i 1
Approved as to form:
If ' zo'ot '
Directo~r ¢ f" Law
'.\~
I, William F. Reed, Clerk of Council of the City of Fatrlawn, Summit County,
Ohio~ do hereby certify that the foregoing Ordinance No. 197_2-21
was duly and regularly passed by the Council at a regu_lar Meeting
on 1 -~-72 ·
William F. ~eed
Clerk of Council