Resolution 6129 RESOLUTION NO. 6129
BE IT RESOLVED by the City Council of the City of Miami
Beach, Florida, that the North Shore Bank of Miami Beach, Florida,
be and the same is hereby designated as a depository for funds of
the City of Miami Beach, until further action by this Body, with
the understanding that at all times when City funds are on deposit
therein, the said bank shall be required to keep in escrow, suffi-
cient United States Government Bonds or U. S. Treasury Notes to
equal or exceed in par value the amount of said funds on deposit,
as collateral security for the protection of said deposit, and
BE IT FURTHER RESOLVED that the manner of placing said
collateral in escrow and any subsequent change in or removal of
same shall be subject only to the written approval of either Mr.
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C. W. Tomlinson, as City Clerk or Mr. Claude A. Renshaw as City
Manager.
PASSED AND ADOPTED THIS 15th day of October, A. D. , 1946.
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