1929-02 Designating Stuart Central Farmers' Bank a depositoryThe followin�--, resolution was proposed by Councili'!a-n S. R. Raifenider, who moved
1 /1- its adontion; motion seconded by 0ouncil,,,nan A. Berka and. carrie.35 Ity unanimous vote:
R Z S 0 L U T 1 0 N
WHEREAS, the City Council of the Cit, of Okeechobee, Florida, at a regular
meeting held on the 10th day of June, A. D. 1q,29, desipplated St-faart Central Far—
mers' Bank of Stuart, Florida, a Depository for the 0ity of Okeechcit)ee, Floridia,
and
WHEREAS, the svid Depository tras not required t -o secure the fun.,"s of said
at, t1l-ie 4-iii;e said -Ie-oosito:ty —as desiLmated by the City C uncil d
Ci4 0 n
-y Council of +he said City of Okeechobee feel that it is to
WhiEREAS, tle Ci t �0 U
the ',',,,est interest of said City t -11 -'at said funds be secured.,
I'Tonr 'j1'HE1&:16EFGRE. B IT RESOLVED BY THE LAYOR AND CITY COUNCIL OF THE CITY OF
E T
OKEE-HOBEE, FLORIDA.
V
1b the
Section 1. That/sa.id Denository, Stuart- '�.Oentra,l Farmersl Bank of Stuart,
Florida, be, and they are here'by required to secure the funds of the "ity of Okee—
ul� V
f ohobee, Florida, with bond in the aiLount of 100% of said funds on deposit.
Section 2. That upon the failure of the said Depository to furnish 'ki-ond as
a'16'oresaid that the Pxesident of the City Council and the V"'ftairman of the Finance
Coa"iittee of said City Council and the City Clerk be authorized to withdram the
funds of the said Citv of Okeechobee, and "-o keen said funds until the further
orders of the City Council.
Seotion_3. That said bond to be given to *secure said funds shall be Govern—
ment Bonds or such bonds that will meet rith the annroval of the City bouncil.
Section 4. That the said Denository Stuart Central Farmers' Bank of Stuart,
Florida, be furnished with a cony of this Resolution.
Which Resolution rvas read a first time 3nd by unani,,-.qous consent- passed to a
second rec-,,ding.
Read a seconC-� time ar-�� by unanimoi:,;s conFent passec', to za third and, final recad-
ing.
Read a, third tw . irie and nassed ir, 0 -pen ses�-,ion of the Oity Council, the 12-th day
Of June, A. D. 10,�IO-
9
A I: t e t President of 'City Council
R. P. Fletcher
City C'Ierk.
(Corporate Seal)
Approved by me this 12th day of June, A. D. 1550.
j. Denham Bird
"YOR.
UPOh motion. Council ad4ourned.