1981-10 BankingRESOLUTION NO. 81-10
WHEREAS, the City of Okeechobee invests surplus funds from time to time in
certificates of deposit and money markets; and
WHEREAS, the First Federal Savings & Loan of Ft. Pierce
Bank
bids on time deposits and money markets; and
WHEREAS, the City of Okeechobee desires to maintain various accounts and
time deposits with the
and
First Federal Savings & Loan of Ft. Pierce ;
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 Federal Savings & Loan of Ft. Pierce
Bank
and it hereby is declared to be one of the depositories for city funds
for general fund, the water and sewer fund, and pension trust funds.
be
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 Federal Savings & Loan of Ft. Pierce With -
Bank
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 reslution shall take effect as provide by law.
Introduced and adopted in regular session assembeld this 14th day of April ,
1981.
Mayor
ATTEST:
n . / �[1G�6L�.-�_ i
City Clerk