HomeMy WebLinkAboutResolutions - R-80-19 - 12/01/1980 - Bank Depositories R-80-19
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 William Brda, as City Treasurer of the City of
McHenry may be deposited.
NOW, THEREFORE, BE IT RESOLVED by the City of McHenry, Illinois, City
Council , that:
McHenry State Bank
First National Bank of McHenry
McHenry Savings and Loan Association
Marengo Federal Savings and Loan Association-McHenry Branch
First Federal of Chicago-McHenry Branch
are hereby designated depositories in which the funds and moneys of the City
of McHenry, Illinois in the custody of William Brda 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 depo-
sitory; 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, Il-
linois shall not be discharged from responsibility for any such funds or moneys
deposited in any bank in excess of such limitation.
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 ac-
cepted.
I HEREBY CERTIFY the above is a true copy of the Resolution passed by the
City Council of the City of McHenry, Illinois at a meeting held on the / 1
day of December, 1980, and now on file in my office.
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Barbara . Gilpin, City Clerk