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� R E P E A L E D B Y R E S O L U T I O N N O . 1 5 5 7 � 1 1 / 1 4 / 7 9 " S � � � � � � � � � � � � � * � � R E S O L U T I O N N O . 1 3 8 8 " � W H E R E A S , t h e P l a n o f T h e M e t r o p o l i t a n S t . L o u i s S e w e r D i s t r i c t p r o v i d e s t h a t t h e S e c r e t a r y � T r e a s u r e r s h a l l " d e p o s i t d a i l y a l l m o n e y s c o m i n g i n t o h i s h a n d s i n s u c h d e p o s i t a r i e s a s a r e d e s i g n a t e d b y t h e B o a r d " . ( S e c . 7 . 0 2 0 ( 2 ) . I t f u r t h e r p r o v i d e s t h a t h e s h a l l " i n v e s t , w i t h t h e a p p r o v a l o f t h e B o a r d , f u n d s n o t i m m e d i a t e l y n e e d e d f o r t h e p u r p o s e t o w h i c h s a i d f u n d s a r e a p p l i c a b l e , i n a n y b o n d s , c e r t i f i c a t e s , o r o t h e r i n t e r e s t � b e a r i n g o b l i g a t i o n s g u a r a n t e e d a s t o b o t h p r i n c i p a l a n d i n t e r e s t b y t h e g o v e r n m e n t o f t h e U n i t e d S t a t e s a n d m a t u r i n g n o t l a t e r t h a n o n e y e a r f r o m t h e d a t e o f i s s u e " . ( S e c . 7 . 0 2 0 ( 3 ) , a n d W H E R E A S , S e c t i o n 7 . 0 8 0 p r o v i d e s f o r t h e s e l e c t i o n o f d e p o s i t a r i e s a n d c o v e r s t h e r e q u i r e m e n t s o f c o l l a t e r a l , N O W , T H E R E F O R E , B E I T R E S O L V E D , t h a t , i n o r d e r t o g u i d e t h e S e c r e t a r y � T r e a s u r e r , t h e B o a r d d i r e c t s h i m a s f o l l o w s : ( 1 ) T h e u s u a l i n v e s t m e n t i n d e p o s i t a r i e s s h a l l b e i n C e r t i f i c a t e s o f D e p o s i t . T h e S e c r e t a r y � T r e a s u r e r m a y i n h i s d i s c r e t i o n i n v e s t i n T r e a s u r y B i l l s i f h e d e e m s i t t o b e i n t h e b e s t i n t e r e s t o f t h e D i s t r i c t . ( 2 ) T h e S e c r e t a r y � T r e a s u r e r i s t o p r e s e n t t o t h e B o a r d f o r a p p r o v a l a n n u a l l y , a t i t s l a s t r e g u l a r m e e t i n g o f e a c h f i s c a l y e a r , a r e c o m m e n d e d l i s t o f d e p o s i t a r i e s f o r t h e c o m i n g f i s c a l y e a r , a l l o f w h i c h s h a l l b e w i t h i n t h e D i s t r i c t , a n d a l l o f w h i c h s h a l l b e i n s u r e d b y t h e F e d e r a l D e p o s i t I n s u r a n c e C o r p o r a t i o n . ( 3 ) T h e r e c o m m e n d e d l i s t o f d e p o s i t a r i e s s h a l l i n c l u d e � j � � � � � � � t h o s e b a n k s w i t h i n t h e D i s t r i c t ' s b o u n d a r i e s t h a t e x p r e s s a n i n t e r e s t i n b e c o m i n g D i s t r i c t d e p o s i t a r i e s a n d a g r e e t o d e l i v e r t o t h e S e c r e t a r y � T r e a s u r e r , o r t o a d i s i n t e r e s t e d b a n k i n g i n s t i t u t i o n , c o l l a t e r a l a t l e a s t e q u a l i n m a r k e t v a l u e t o n o t l e s s t h a n 1 0 0 % o f t h e a m o u n t o f d e p o s i t w i t h i n s a i d b a n k o r t r u s t c o m p a n y , l e s s $ 2 0 , 0 0 0 . 0 0 i n s u r e d b y t h e F e d e r a l D e p o s i t I n s u r a n c e C o r p o r a t i o n , a l l a s f u r t h e r s e t o u t i n s u c h r e s o l u t i o n s e l e c t i n g d e p o s i t a r i e s . ( 4 ) N o b a n k w i l l b e m a d e a d e p o s i t a r y i f a m e m b e r o f t h e D i s t r i c t ' s B o a r d o f T r u s t e e s i s o n t h e B o a r d o f D i r e c t o r s , o r i s a n o f f i c e r i n t h e b a n k , e x c e p t t h a t f r o m a n d a f t e r t h e t i m e w h e n s u c h p e r s o n i s a p p o i n t e d t o t h e D i s t r i c t ' s B o a r d , t h e n t h e f u n d s o n d e p o s i t w i t h t h a t b a n k s h a l l n o t e x c e e d t h e h i g h e s t a m o u n t o n d e p o s i t a t a n y t i m e d u r i n g t h e 5 y e a r p e r i o d w h i c h p r e c e d e s t h e a p p o i n t m e n t o f t h e p e r s o n . ( 5 ) I t s h a l l b e t h e r e s p o n s i b i l i t y o f t h e S e c r e t a r y � T r e a s u r e r t o m a x i m i z e t h e i n t e r e s t e a r n i n g s o f t h e s e f u n d s i n t h e d e p o s i t a r i e s , a n d a ) D e p o s i t a r i e s w i l l i n g t o p a y t h e h i g h e s t r a t e s o f i n t e r e s t f o r g i v e n p e r i o d s o f t i m e s h a l l b e s e l e c t e d f o r t h e s e d e p o s i t s ; b ) N e e d f o r t h e f u n d s i n v o l v e d t o p a y c o n s t r u c t i o n c o s t s o r p r i n c i p a l a n d i n t e r e s t , o r o t h e r o b l i g a t i o n s o f t h e D i s t r i c t s h a l l b e c a r e f u l l y p l a n n e d w i t h t h e D i r e c t o r o f F i n a n c e , a g a i n w i t h t h e p u r p o s e o f c o m m i t t i n g t h e s e f u n d s i n s u c h a w a y a s t o m a x i m i z e t h e i r e a r n i n g s ; � d � � � � � � � R c ) M a x i m i z e t o t h e e x t e n t p o s s i b l e t h e i n v e s t m e n t o f funds in increments of $100,000 or more, if higher rates of interest can thereby be obtained; d) The Secretary©Treasurer is instructed to keep nonªinterest bearing deposits at the lowest practical minimum. e) Funds derived from a certain specific area, such as a subdistrict shall, as far as practicable, be kept in those depositaries which may be within that area; f) When Certificates of Deposit mature, the bank involved will be given preference in retaining the money if the interest rate it is willing to pay is as great as that available elsewhere; g) The Board recognizes that its funds come from the entire community irrespective of race, creed or national origin; The District will, therefore, make a special effort to use as depositaries those banks which serve the entire community, assuming the maximum interest available will be paid, and the collateral offered meets the District's requirements; h) From time to time as interest rates change, the Secretary©Treasurer shall confer with the Board for general guidance with respect to the most desirable lengths of time for the maturities of Certificates of Deposit; i) The Secretary©Treasurer shall report to the Board of Trustees each month, the names of the banks in which monies shall have been deposited as Certificates of Deposit, the date of deposit, the amount of deposit, the maturity date of eachÜdÜ Certificate of Deposit and the interest rates to be received. j) The Secretary©Treasurer shall each month give the Board a bank by bank summary as of the last of the previous month of all cash in each bank, showing the amount of the Certificates of Deposit, cash, savings account, total cash in bank, face value of collateral and market value of collateral. k) An annual report to the board shall be made as to the average amount of money in depositaries and the total amount of interest earned. (6) All suggestions, requests or instructions from Board members regarding deposits shall be cleared in advance through the Board as a whole. The foregoing Resolution was adopted April 24, 1974.