69-KRESOLUTION NO. 69 -.~_/
WHEREAS, duly designated officials ofthe City of
Boynton Beach, are authorized, pursuant to the provisions of Chapter 665,
Florida Statutes, to invest municipal funds in Federal Savings and Loan
Association accounts to enable said municipality to receive the highest
interest rates obtainable in accordance with sound fiscal practice; and
WHEREAS, in connection with the investment of such funds, it is
necessary that sufficient Custod~ia~s and Trustees be designated and appointe,
to so invest such funds in independent accounts in order to guarantee that
same are fully insured in accordance with Federal Deposit Insurance
Corporation requirements;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF BOYNTON BEACH, FLORIDA:
1. That the City Treasurer, B. J. LAW, is hereby designated and
appointed as Custodian and Trustee of the CITY OF BOYNTON BEACH
GENERAL FUND TRUST ACCOUNT and the CITY OF BOYNTON BEACH
METER DEPOSIT TRUST FUND ACCOUNT; that the acting City Finance
Director, B. J. LAW, is hereby designated and appointed as Custodian and
Trustee of the CITY OF BOYNTON BEACH SELF-INSURANCE TRUST FUND
ACCOUNT, and the CITY OF BOYNTON BEACH RESERVE FOR DISASTER
TRUST FUND ACCOUNT; that City Manager, GRADY W. COURTNEY, is
hereby designated and appointed as Custodian and Trustee of the CITY OF
BOYNTON BEACH CEMETERY TRUST FUND ACCOUNT. That in the
absence or inability of the above ~. J. LAW to fulfill the duties herein
prescribed, M. C. HOLZMAN, Deputy Treasurer, is hereby designated and
authorized to fulfill said functions.
2. That the above-designaited Custodians and Trustees are hereby
authorized to ~ en and maintain investment savings accounts in all or any of
the following associations: FIRST FEDERAL SAVINGS AND LOAN ASSOCIA'
OF WEST PALM BEACH; FIDELITY^SAVINGS AND LOAN ASSOCIATION OF
WEST PALM BE/~CH; HOME FEDERAL SAVINGS AND LOAN ASSOCIATIO~
OF PALM BEACH; PEOPLES FEDERAL SAVINGS AND LOAN
ASSOCIATION OF LAKE WORTH; FIRST FEDERAL SAVINGS AND LOAN
ASSOCIATION OF LAKE WORTH; AND FIRST FEDERAL SAVINGS AND
LOAN ASSOCIATION OF DELRAY BEACH; thai deposits and withdrawals
from said accounts shall be made by said Custod~ns and Trustees as funds
are available or needed, for lhe municipal uses for which subject accounis
were eslablished.
PASSED AND ADOPTED this 17 ~'day of March, A.D. 1969.
ATTEST:
City Clerk
CORP. SEAL
CITY OF BOYNTON BEACH, FLORIDA
,,_ .,.:, _ . .~..-~. ..
Mayor '
Councilm
Councilman
~unci~an .