HomeMy WebLinkAboutResolutions - R-89-21 - 08/30/1989 - Designation of DepositoriesR-89-21
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 Thomas C. Alverson, 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 McHenry
McHenry Savings Bank
Marine Bank (IPTIP), Springfield, IL.
McHenry State Bank
are hereby designated depositories in which the funds and moneys of the City
of McHenry, Illinois in the custody of Thomas C. Alverson 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 depositories mentioned herein have
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 30th day of August, 1989.
AYES: Bolger, Donahue, Lieder. McClatchev Patterson Smith, Teta
NAYS: _ __ None
ABSENT: Serritella
NOT VOTINone
ABSTAINED: ni—
APPROVED this 30th day of August,
ATTEST: ayor
i y er
(SEAL)