(A) The village hereby designates the following as the depositories for its money-market and checking accounts where they are currently on deposit:
(1) American Express Card Services;
(2) American National Bank;
(3) Ameriprise Financial Services;
(4) Bank of America;
(5) BMO Harris Bank & Trust;
(6) Illinois State Treasurer’s Funds Prime;
(7) Illinois State Treasurer’s Money Market;
(8) International Bank of Chicago;
(9) Nations Fund;
(10) Pan American Bank;
(11) United Missouri Bank;
(12) Zions National Bank.
(B) As authorized by the Illinois Municipal Code, ILCS Ch. 65, Act 5, § 3.1-35-50, the foregoing banks shall continue as the village's depositories as long as they are qualified and shall demonstrate the same by furnishing the village with statements of resources and liabilities which are required, or when they are changed upon the recommendation of the Village Comptroller and Village Treasurer.
(C) It is hereby directed that the sureties of the Village Treasurer shall be notified by the Village Comptroller, in writing, that the depositories have been designated by the village.
(D) As authorized by the Illinois Municipal Code, ILCS Ch. 65, Act 5, the Village Treasurer shall be discharged from responsibility for all funds and moneys deposited in the designated depositories while the funds and moneys are so deposited.
(`95 Code, § 36.01) (Ord. 732, passed - - ; Am. Ord. 02-35, passed 9-25-02; Am. Ord. 15-7, passed 2-18-15)