1981-11 BankingRESOLUTION NO. 81-11
• WHEREAS, the City of Okeechobee invests surplus funds from time to time in
certificates of deposit and money markets; and
WHEREAS, the First Savings & Loan of Okeechobee
Bank
bids on time deposits and money markets; and
WHEREAS, the City of Okeechobee desires to maintain various accounts and
time deposits with the First Savings & Loan of Okeechobee ;
Bank
and
WHEREAS, the City of Okeechobee wishes to eliminate the routine of opening a
new account each time a new time deposit or certificate of deposit is aquired,
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Okeechobee,
Florida as follows:
1) The First Savings & Loan of Okeechobee be
Bank
and it hereby is declared to be one of the depositories for city funds
for the general fund, the water and sewer fund, and pension trust funds.
2) That deposits to any of these funds may be made in a routine manner and
purchases of certificates of deposit, money markets, certificates or
other financial paper such as treasury bills may be made through the
First Savings & Loan of Okeechobee
. With-
drawals may be made on checks provided for that purpose and countersigned
by the City Clerk and one other person from the following:
Mayor or
City Councilmen
3) This resolution shall take effect as provide by law.
Introduced and adopted in regular session assembeld this 14th day of April ,
1981.
Mayor
ATTEST:
• City Clerk