A. Depository Designated: The Village does hereby appoint and designate Elgin State Bank, a branch of St. Charles Bank & Trust, a Wintrust Company (or its successor), as a depository of funds, including but not limited to investments, deposits, withdrawals and all other manner of financial transactions as said depository may be requested to perform on behalf of the Village.
B. Authorized Officials: The President and Finance Director or Clerk are designated as the proper parties to effectuate withdrawals and sign checks, acting singularly. The Finance Director is authorized to establish policies relating to such executions.
C. Transfers And Investment Of Funds: The Finance Director or designee shall make transfers and direct investments of funds of the Village within and among accounts standing in the name of the Village or hereinafter so created. The Finance Director is further authorized to make investments with any firm, fund or institution approved of by the Village Board through ordinance, resolution, motion, or through inclusion in an approved investment plan or budget. (Ord. 2018-O-21, 8-20-2018)