|
|
|
|
|
Meeting Date:
|
8/24/2021 - 7:00 PM
|
|
Category:
|
Financial Matters
|
|
Type:
|
Action
|
|
Subject:
|
8.5 Depository Agreement -
WHEREAS, RC 135.01 and 135.21, constituting "The Uniform Depository Act": governing the deposit of all monies of this Board, and
WHEREAS, the present depository designations of this Board expire as of August 27, 2021; and
WHEREAS, estimates of the probable amounts of public monies to be deposited in eligible public depositories should be made by this Board preceding the designation of public depositories; and
NOW, THEREFORE, BE IT RESOLVED by the Board of Education of the Wapakoneta City School District that it will, at the regular meeting of August 24, 2021, designate the following public depositories and award the active and interim public monies to and among such designated depositories for the period of August 27, 2021, through August 26, 2026.
J.P. Morgan Chase
First National Bank in New Bremen
Minster Bank
Fifth Third Bank
Star Ohio (Huntington National Bank)
Multi-Bank Securities
Huntington National Bank
LPL Financial
FURTHER BE IT RESOLVED that it is estimated that the aggregate maximum amount of its deposits of public monies will not exceed $10,000,000.
FURTHER BE IT RESOLVED that it is estimated that the aggregate maximum amount of its interim deposits of public monies at any time will be $20,000,000; and
FURTHER BE IT RESOLVED that it is estimated that the aggregate maximum of its inactive deposits of public monies at any time will be $20,000,000; and
FURTHER BE IT RESOLVED that it is estimated that the aggregate maximum of its active deposits of public monies to be so deposited in and among the eligible public depositories at the beginning of the period will be $10,000,000 and also that the probable maximum amount of active deposits of public monies subject to deposit therein at any time will be $20,000,000; and
FURTHER BE IT RESOLVED that such banks and institutions as shall be eligible to become public depositories for this Board shall make application in writing to this Board for such active, interim, and inactive public deposits as they desire to receive and have on deposit at any time, and that:
a. Each application shall be accompanied by a financial statement meeting the requirements of RC 135.06.
b. The only security to be furnished by public depositories for the repayment of public monies under the control of this Board shall be the securities listed in RC 135.18 and 135.181.
|
|
Strategic Plans:
|
|
|
Enclosure
|
|
|
File Attachment:
|
|
|
Summary:
|
|
|
Funding:
|
|
|
Recommendation:
|
.
|
|
Approvals:
|
|
Recommended By:
|
|
Signed By:
|
|
|
Aaron Rex - Superintendent
|
|
|
|
|
|
Vote Results:
|
| Original Motion | | Member Moved, Member seconded to approve the Original motion '.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 5 Nay: 0. | | The motion Carried 5 - 0 |
|
|
|
|
|
|
|