HomeMy Public PortalAboutR0060 R E S O L U T I O N NO. 60
WHEREAS, the District has received funds from the sale
of Bonds for the Maline Creek Trunk Subdistrict, and
WHEREAS, it is necessary that a special account be set
up to administer the principal and interest payments on such
bonds,
NOW, THEREFORE, BE IT RESOLVED, that a Principal and
Interest Account be provided for the funds for the Maline Creek
Trunk Subdistrict, and that the Bank of St. Louis be and is hereby
selected as such depository, and
BE IT FURTHER RESOLVED, that the Secretary-Treasurer is
directed to open the aforesaid 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, and
BE IT FURTHER RESOLVED, that all checks drawn upon such
Principal and Interest Account shall be signed by the Executive
Director or the Director of Finance, and countersigned by the
Secretary-Treasurer.
All such deposits shall be secured in the manner
provided by Section 7.080 of the Plan, by the deposit with a
disinterested banking institution or safe depository, of
securities of the kind and character as provided in Section 30.270
R.S.Mo. 1949, at least equal in market value to not less than 100%
of the amount of the deposits made hereunder.
The foregoing Resolution was adopted May 14, 1956.