§ 36.009 COLLATERALIZATION.
   Collateralization may be required, at the discretion of the village, on all funds held in banks or savings and loans above the insured limits provided by the FDIC or FSLIC. In order to anticipate market changes and provide a level of security for all funds, the collateralization level will be a minimum of 102% of market value of principal and accrued interest.
(2009 Code, § 1-5-9)