HomeMy Public PortalAboutR0026 R E S O L U T I O N NO. 26
WHEREAS, under the provisions of Section 7.080 of the
Plan of The Metropolitan St. Louis Sewer District, the Board of
Trustees is directed annually to select one or more banks or trust
companies situated in the District for the deposit of all funds of
the District and any subdistrict;
NOW, THEREFORE, BE IT RESOLVED that the First National
Bank in St. Louis and the St. Louis County National Bank of
Clayton, Missouri, be and they hereby are, selected as
depositories for the deposit of all general funds of the District
and any subdistrict; and
BE IT FURTHER RESOLVED, that the Boatmen's National
Bank of St. Louis, the First National Bank of Clayton and the
Manchester Bank of St. Louis, be and hereby are, selected as
depositories for special accounts of funds deposited with the
District by subdividers and others to secure the future
construction of sewers in the District; and
BE IT FURTHER RESOLVED, that as a condition precedent
to the deposit of funds of the District, or funds deposited with
the District to secure the future construction of sewers, each of
said banks shall deposit with the Federal Reserve Bank of St.
Louis securities of the kind and character provided in Section
30.270 of the Revised Statutes of Missouri, 1949, equal in market
value to the amount of the deposits of the District in each of
said banks, and upon increase of deposits in each of said banks
such banks will make further deposits of securities of like kind
and character with the Federal Reserve Bank equal in market value
to the amount by which deposits are increased.
BE IT FURTHER RESOLVED, that each of said banks may, at
any time, withdraw any of the securities so deposited upon
depositing other securities of the kind and character specified in
said Section 30.270 having a market value equal to or in excess
value of the market value of the securities withdrawn. Such
withdrawal and substitution may be made by any authorized officer
of any of said banks and L. E. Ordelheide, Executive Director of
the District, John E. Clark, Secretary-Treasurer of the District
or Richard B. Piatt, Director of Finance of the District, such
consent to withdraw and substitution to be evidenced by such form
of authorization as may be required by such Federal Reserve Bank
of St. Louis. WE, JOHN M. BOGDANOR, as Chairman of the Board of Trustees and JOHN E. CLARK, Secretary-Treasurer of The Metropolitan St. Louis Sewer District, certify that the above and foregoing is a true copy of the Resolution adopted by the Board of Trustees of The Metropolitan St. Louis Sewer District on the ______ day of June, 1955. ______________________________ JOHN M. BOGDANOR Chairman, Board of Trustees ______________________________ JOHN E. CLARK Secretary-Treasurer THE METROPOLITAN ST. LOUIS SEWER DISTRICT ATTEST: ______________________________ The foregoing Resolution was adopted June 20, 1955.