HomeMy WebLinkAboutResolution #160 _
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RESOLUTION DESIGNATING DEPOSITORIES
sTAT1 OF ILLINOIS)
SS.
COUNTY OF FULTO N )
WHEREAS , Micheal Ji-M41-ler, Treasurer of the City of Canton,
pursuant to the terms of an Act of the General Assembly of the state
of Illinois adopted and now in full force and effect , requests the
City Council of the City of Canton to designate a bank or banks , or
other depository in which funds and moneys in his custody may be
deposited .
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City
of Canton, that the NATIONAL BANK OF CANTON, and THE FIRST NATIONAL
BANK OF Cti1CAGO, are hereby designated as such depositories ; and
BE IT FURTHER RESOLVED, that each bank designated as a depository
for such funds or moneys shall furnish the City of Canton with a copy
of all bank statements which it is required to furnish to the Auditor
of Public Accounts , or to the Comptroller of Currency, while acting
as such depository; and
BE IT FURTHER RESOLVED, that if such funds or moneys are deposit-
ed in any bank herein designated as a depository, the amounts of such
deposits shall not exceed seventy-five percent of the capital stock and
surplus of such bank, and the Treasurer shall not be discharged from
responsibility for any such funds or moneys deposited in any bank in
excess of such limitation.
Mayor