The offer of the Dollar Savings and Trust Company, Youngstown, Ohio, is hereby accepted, and the Mayor and the Fiscal Officer are hereby authorized and directed to execute, in the name of the Village, a custodian contract with the Dollar Savings and Trust Company in accordance with the terms of such offer and this chapter. Such contract shall provide for compensation to the custodian of a sum equal to three percent of the income produced on the Trust Principal Account, payable annually out of the income of the Account. Such contract shall be subject to termination by either party upon sixty days written notice to the other.
(Ord. 429. Passed 9-1-59; Ord. 1420-12. Passed 10-30-12.)