HomeMy WebLinkAboutResolution No.67-56RESOLUTION NO. 67 -56
RESOLUTION DESIGNATING THE FIRST NATIONAL BANK
OF CAPE CANAVERAL, FLORIDA, AS DEPOSITORY FOR
SINKING FUND AND RESERVE ACCOUNT UNDER CITY'S
PAVING PROJECT, PROVIDING FOR INTEREST;
PROVIDING AN EFFECTIVE DATE.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF CAPE CANAVERAL, FLORIDA, AS FOLLOWS:
SECTION 1. The First National Bank of Cape Canaveral
Florida, is hereby designated as the official depository of
the City's Sinking Fund account and Reserve Account, an
authorized in the Bond Validation Ordinance pertaining
to the City's Paving Project. Such monies deposited in
such Depository shall draw interest in the amount of 4}$
per annum for the first year, and thereafter in such an
amount as the First National Bank of Cape Canaveral is
then paying and advertising.
SECTION 2. Proper City Officials are hereby
authorized and directed to set up the before mentioned
accounts with the before mentioned depository, all in
compliance with the before mentioned Bond Validation Ordinance.
SECTION 3. This Resolution shall become effective
immediately upon its adoption.
ADOPTED by the City Council of the City of Cape
Canaveral, Florida, this 17th day of October 1967.
Attest;
City Clerk
Approved as to Form:
urcy—Attorney
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