HomeMy WebLinkAboutResolutions - RS-97-28 - 05/07/1997 - First National Bank designated for fundsRS-97- 28
RESOLUTION
WHEREAS, pursuant to the terms of an Act of the General Assembly of the State of Illinois adopted
and now in force and effect, it is required that a designation be made of a bank or banks, or other depository
in which the funds and monies in the custody of David Welter, as City Treasurer of the City of McHenry
may be deposited.
NOW, THEREFORE, BE IT RESOLVED by the Mayor and City Council of the City of McHenry,
Illinois that:
First National Bank of Central Illinois [IPTIP], Springfield, IL
is hereby designated as the IPTIP depository in which the funds and moneys received from the State of
Illinois for the City of McHenry, Illinois in the custody of David Welter as City Treasurer may be deposited.
BE IT FURTHER RESOLVED that no bank herein designated as a depository shall be qualified to
receive such funds or moneys until it has furnished the City Council of the City of McHenry, Illinois with
copies of the two last sworn Statements of Resources and Liabilities, which such bank is required to furnish
to the Auditor of Public Accounts, or to the Comptroller of Currency; and
BE IT FURTHER RESOLVED that each bank designated as depository for such funds or moneys shall
furnish the City Council of the City of McHenry with a copy of all bank statements, which it is required to
furnish to the Auditor of Public Accounts, or the Comptroller of Currency, while acting as such depository;
and
BE IT FURTHER RESOLVED that if such funds or monies are deposited in a bank herein designated
as a depository, and amounts of such deposits shall not exceed 75% of the capital stock and surplus of such
bank, and the City of McHenry, Illinois shall not be discharged from responsibility for any such funds or
moneys deposited in any bank in excess of such limitations.
BE IT FURTHER RESOLVED that the depository mentioned herein has furnished that body with
copies of their past two statements as furnished to the Comptroller of Currency, or Auditor of Public
Accounts, which statements are approved and accepted.
PASSED this 7th day of May, 1997.
AYES: Bolger, Glah, McClatchey, Murnatrnvrl_ Baird.
NAYS: None.
ABSENT: None.
NOT VOTING: None.
ABSTAINED: one.
APPROVED this 7th day of May, 1997. J
ATTEST: Mayor
Cit Clerk t