(A) The following are designated depositary establishments for the active and inactive funds of the Village of New Bremen: Minster Bank, Minster, Ohio; First National Bank of New Bremen, Ohio, and State Treasury Asset Reserve of Ohio (STAR).
(B) Each of the institutions named in division (A) above making application for public monies of the Village of New Bremen has agreed, pursuant to R.C. § 135.18, in consideration of the award of public monies, before receiving the initial or subsequent deposits, to pledge to and deposit with the Fiscal Officer of the Village as security for the repayment of all public monies of the Village of New Bremen deposited in the institution during the period of designation pursuant to award, eligible securities of aggregate market value equal to the excess of the amount of public monies to be at the time so deposited, over and above such portion or amount such monies as is at such time insured by the Deferral Deposit Insurance Corporation.
(Ord. 2016-2-7, passed 2-24-16)