HomeMy Public PortalAbout02-02-1987 - Special Meeting 4-
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PROCEEDINGS OF THE BOARD OF FINANCE OF THE
CITY OF RICHMOND, INDIANA, FEBRUARY 2, 1987
1 The Board of Finance of the City of Richmond, Indiana met in scheduled session February 2, 1987
2 at the hour of 6:50 P.M. in the Council Chambers in said City. Chairman Whitesell presided with
3 the following Members present: Councilmembers Elstro, Williams, Hankinson, Parker, Hutton,
4 Morris, Theobald and Brookbank, Mayor Frank H. Waltermann and City Controller Marge Sweet.
5 Absent: None. The following business was had to-wit:
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7 APPROVAL OF MINUTES OF JANUARY 20, 1987
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9 Councilmember Hutton moved to approve the minutes of the previous meeting as prepared,
10 seconded by Councilmember Morris and on unanimous voice vote the motion was carried.
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12 DESIGNATION OF DEPOSITORIES FOR CITY FUNDS
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14 Chairman Whitesell stated that notices had been sent by registered mail to all financial
15 institutions in the City requesting proposals for depositing of city funds. The notices had been
16 mailed twenty (20) days in advance of the meeting as required by law.
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18 Ms. Sweet informed the Board that responses for depositing of city funds had been received from
19 three financial institutions being First National Bank of Richmond, Second National Bank of
20 Richmond and Wayne Bank and Trust. Ms. Sweet requested the Board designate these three
21 institutions and list them as depositories of city funds.
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23 Councilmember Brookbank moved to designate the First National Bank of Richmond, the Second
24 National Bank of Richmond and Wayne Bank and Trust as depositories of city funds, seconded by
25 Councilmember Morris and on unanimous voice vote the motion was carried.
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27 Chairman Whitesell directed the Secretary to forward the list of depositories to the State prior
28 to the second Monday in March.
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30 Councilmember Hankinson asked if there would be a problem in view of pending name changes of
• 31 the banks and Ms. Sweet indicated new agreements might need to be signed at that time and that
32 also if other financial institutions requested to be listed, the Board might need to meet during the
33 year for approval.
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35 ADJOURNMENT
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37 There being no further business, on a motion duly made, seconded and passed the meeting was
38 adjourned.
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44 Terry Whitesell, Chairman
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48 ATTEST:
49 Marge Sweet, Secretary
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