The County Commissioners, acting as the County Board of Finance per I.C. 5-13-7-1, resolve that:
(A) To obtain the highest rate of return on county funds, the County Commissioners designate the following as designated depositories:
(1) Rising Sun State Bank;
(2) Star Bank of Dearborn County;
(3) Peoples Building and Loan of Aurora;
(4) Perpetual Federal Savings of Lawrenceburg; and
(5) Progressive Building and Loan of Lawrenceburg.
(B) The County Treasurer or Auditor is directed to obtain interest quotations from the above named depositories.
(C) (1) The county funds shall be placed in the depository quoting the best rate of interest.
(2) If there is to be deposited a large sum of monies (in excess of $100,000), the Auditor and Treasurer may jointly agree to divide the monies between more than one depository to safeguard the monies on deposit against the possibility of failure of a depository.
(D) This section is made to comply with the requirement of I.C. 5-13-9-5.
(E) The sums so deposited will not be able to be withdrawn by check.
(F) The interest shall be receipted to the General Fund.
(Res. 8812-R, passed 12-2-1988)