HomeMy Public PortalAboutR0043 R E S O L U T I O N NO. 43
WHEREAS, the District has adopted the policy of
requiring the deposit of funds for future construction of sewers
to be held by the District, in lieu of any other escrowee; and
WHEREAS, certain funds have been deposited with the
District for such purpose and have been deposited in the Boatmen's
National Bank of St. Louis, the First National Bank of Clayton,
Clayton, Missouri, and the Manchester Bank of St. Louis, and it is
the consensus, due to the increasing amount of escrow money, that
one additional depository should be used for such funds.
NOW, THEREFORE, BE IT RESOLVED, that as an additional
depository for funds place with the District for the purpose of
future sewer construction, the Bank of St. Louis, 901 Washington
Avenue, is selected for such depository, and the Secretary-
Treasurer is directed to open an account with said bank for the
deposit of such funds, and such funds shall be disbursed in
accordance with the provisions of agreements made within the fixed
policy of the District.
All such deposits shall be secured in the manner
provided by Section 7.080 of the Plan by the deposit with a
disinterested bank institution or safe depository, of securities
of the kind and character as provided in Section 30.270 R.S.Mo.
1949.
The foregoing Resolution was adopted February 13, 1956.