All Eligible Investments shall be deposited for safekeeping with a “qualified trustee” as provided in Ohio R.C. 135.18. Such qualified trustee shall be required to report to the Treasurer, the Auditor of the State of Ohio or a duly authorized independent Auditor of the Village, at any time upon request of such party, the identity and location of the document evidencing each Eligible Investment held by such qualified trustee. In lieu of such custody, but only with respect to an Eligible Investment issued in certificated form, such Eligible Investment may be safekept in a safe deposit box or vault at an Eligible Institution, or if such Eligible Investment has been issued in certificated form and is registered in the name of the Village, such Eligible Investment may be safekept in the vault of the treasury of the Village. An Overnight Repurchase Agreement (as defined in Section 126.12) may be held in trust by the Eligible Institution with whom the Village has entered into the Overnight Repurchase Agreement, if the Eligible Institution is a designated depository of the Village for the current period of designation, notwithstanding anything to the contrary in this Section or Ohio R.C. Chapter 135.
(Ord. 2006-11. Passed 4-5-06.)