A. The village board of trustees will have the responsibility to select which financial institutions will be depositories for village funds.
B. The treasurer will take into consideration security, size, location, condition, service, fees and the community relations involvement of the financial institution when choosing a financial institution.
C. At no time will the village investments exceed sixty five percent (65%) of the financial institution's capital and surplus.
D. All financial institutions having any type of financial relationships, deposits, investments, loans, etc., are required to provide a complete and current "Call Report" required by their appropriate regulatory authority each calendar quarter within thirty (30) days of the "Call" request date. (Ord. 99-23, 12-8-1999)