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