In accordance with R.C. § 731.56, this Council hereby determines that whenever there are monies in the treasury of the village which will not be required to be used by the village for a period of six months or more, such monies may, in lieu of being deposited in a bank, be invested in obligations of the village as well as in those additional obligations which are authorized by the provisions of R.C. § 731.56, and such investments shall be made in accordance with R.C. §§ 731.56 and 731.57, and the provisions of this subchapter.
(Ord. 11-85, passed 6-4-1985)