Resolution 9132 REpOLUTION NO. 9132
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 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.
Provided, however, that at all times there
shall be retained on deposit a minimum of Two Hundred and Fifty
Thousand and 00/100 ($250,000.00) Dollars in each of the said
depositories.
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 of carrying out the purposes
of this resolution.
PASSED and ADOP` ED this 21st day of September,
A. D. 1955.
Mayor
ATTEST:
44; Aaeste„
OFFICE OF CITY ATTORNEY - CITY HALL - MIAMI BEACH 39, FLORIDA
4� (11)
N 0 S�
M �
ri 4 'ti U
H a)
(1) (t)
<C • 0
Z 0 E 0
H Z cd 4-)
H Z U1
Gr 0 -N O
O H S-r 4) -N
H 0 ai •�-i
a c: rcp 0
Qi
o a) a) aa)
W �+ ;, zs
+) m
a.) r—i +-
C) 0
U .0 0
i ,