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Resolution 8826 RESOLUTION NO. 8826 BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF MIAMI BEACH, FLORIDA, that Miami Beach First National Bank, Mercantile National Bank of Miami Beach, North Shore Bank and Bank of Miami Beach upon its commencement of business be, and they are hereby made depositories for funds of the City of Miami Beach, Florida. BE IT FURTHER RESOLVED, that the funds of said City, available for deposit, shall be deposited in the depositories hereinbefore designated in proportions as follows : One-half of the total funds of said City now on deposit or hereafter, from time to time, available for deposit, shall be deposited in the depositories hereinbefore designated on a pro- rata basis, the amount of the deposit by the City from such funds in each of said depositories to bear the same ratio to the total deposits by the City from such funds in all of said depositories as the total capital , surplus and undivided profits of such depository shall bear to the total capital, surplus and undivided profits of all of said depositories . One-half of the total funds of said City now on deposit or hereafter, from time to time, available for deposit, shall be deposited in the depositories hereinbefore designated on a pro- rata basis, the amount of the deposit by the City from such funds in each of said depositories to bear the same ratio to the total deposits by the City from such funds in all of said depositories as the total deposits, of such depository, exclusive of all City deposits, shall bear to the total deposits of all of said depositories, exclusive of all City deposits . BE IT FURTHER RESOLVED that the return of each of said depositories to the last preceding Comptroller ' s call shall determine the amount of capital, surplus, undivided profits and deposits for the basis for carrying out the purposes of this resolution. PASSED and ADOPTED this 15th day of December, A.D. 1954 . 4 Alt . r ATTEST: C. W. Tomlinson, City Clerk At Deputy ty er OFFICE OF CITY ATTORNEY - CITY HALL - MIAMI BEACH 39, FLORIDA nj cd U lD cti N 0 co P:1 c0 ' Ik Z:$ U d; cd