HomeMy WebLinkAboutResolutions - R-87-16 - 09/02/1987 - Depositories for City FundsR-87-16
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 moneys in the custody of Jon J. Meyer, 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:
Amcore Bank of Woodstock
First National Bank of McHenry
McHenry Savings Bank
Marengo Federal Savings & Loan Assoc. (McHenry Branch)
Citicorp Savings
McHenry State Bank
are hereby designated depositories in which the funds and moneys of the City
of McHenry, Illinois in the custody of Jon J. Meyer 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 money 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 2nd day of September, 1987.
AYES:
NAYS:
ABSENT:
NOT VOTING:
ABSTAINED:
APPROVED this 2nd day of September, 1987.
yor
TTEST:
City
C er
(SEAL)