HomeMy WebLinkAboutRes 08-62 06/05/1962
RESOLU'l'IOtf
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DESImlATIO'f'1 OF DEPOSIroRY
WHEREAS, Jame~ C, King, Village Treasurer & Collec'ti)r of the
Villag.e ot Mount Prospect, hu punuant ti) the termll of' an Act of the
General Assembly ~ the State of Illiboia, adopted and now in full fr:rce
and effect requested thils Board to de&'ifignate$ Quality and approve the
bank or bankH in which the fund" and tmney of the Village of Mount Prospect
in hb custody as Village Treasurer and Collector be kept, and
WHEREAS, the following named bank or banks baa or have fur""
niBhed to thi8 Board copie8 'Of the la~t t:.vo Aom--to .,tateJllent3 or
resources and liabilit.ie3 1d1ich such bank or bank. 1a or are l't)(luired to
furnish to the Auditor or Public Accounto or to the Comptroller or the
Currency:
l<<>UNT PRC6PECT STATE BANK
PROSPECT PLAZA BANK
NOW" THERW'ORE, BE IT RESOLVED by the Board of the Village of
Mount Proupect, rlllnei~, that the
MOUN'!' PROSPECT S'l'A'l'E BANK and
PROSPECT PLAZA BANK
are hl!}reby qualitied to receive ~lJch rund~ and moneYd of the Vj(~lage or
Mount Prospect au depoi!it..or1es in which the funds and moneys of' the Village
at Mount Pl'Ospeet in the cu.::tody o.t JUles Co 'King af; Treasurer and
Collector may be kept, and Jame~ C. King i3Mll be dbcharged trOll1 reapon8i~
bility for all llIuch funcU and moneya vhiah he deposit..., in the a.toreaaid
banks.
BE IT FURTHER RESOLVED that each bank herein des1grmted all a
depo~ito1'1 ter sUlch tundo1l oz' m.?ne1\1 ~hall turnissh thu Board vi.th a copy
at all bank statement$ which they are required to turn1~h to the Auditor of
Public A.ceounta or to the Cc.mptroller at the Currency while act ing as such
depOfiito1'1Q Provided" tb..'"it the amount of auch depositti sh.all f':ot exceed
aeventy"l'ive pereent (75%) of the capital CitOCk' and i8urplWJ or :'Juch bank~
and the Trealij\:irer' and Cellac'tor ahall not be rl1~chanred troll! l'Espo1't1jibility
for any ~uch rW1d~ or Money;!! depo6lited in any bank in e:xce~~ of 8uch
liJIit&tiii)n~
BE IT FURmER F.ESOLVED that Thtl United Pacitic Im,urance
Company, surety on the bond of Jamejj C~ King a8 Treasurer &: Collector of
the Village o.f Mount P:to.spect., ~hall not be liable thereon for anT 10S8
t1lustained by the in~olvency, failure or ~":lD~ing at any or the af'oreA1d
ap~ed bankt\i
A.DOPTED thla FlF'ffi day of ,nJlv.J:f 1962",
'~' c. tJ~
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Rutb C~ Wi11lcm~ Village Clerk
SEAIA