(a) Council shall, at its first meeting in each fiscal year, designate one or more of the State or national banks of approved and responsible standing in which the Clerk-Treasurer at all times, subject to payment upon his demand, shall keep all moneys held by him as Clerk-Treasurer. If there are one or more banks in the City which shall apply for the privilege of keeping such moneys and furnish the security for repayment of deposits, as provided by law, such bank or banks shall be selected as such depositories. If two or more banks are located within the City and apply for the privilege of keeping such moneys and furnish the security required by law, then and in that event the Clerk-Treasurer shall not give a preference to any one or more of them in the money he may so deposit.
(1958 Code § 2.4)
(b) Platte Valley Bank, the Security First Bank, the Points West Bank, and Sidney Federal Savings & Loan of Sidney, Nebraska, banking corporations all with their present place of business within Sidney, Cheyenne County, Nebraska, and all authorized to engage in the business of banking within said City of Sidney, Nebraska, be hereby designated as the depositories for City funds as set forth below for the year beginning October 1, 2019 and ending September 30, 2020:
(1) Platte Valley Bank of Sidney: Electric Plant Operation & Maintenance Account, Electric Customer Deposit Account, Street Department Account, Bond Payment Account, Investment Account, Electric Equipment Reserve A/C, and Street Equipment Reserve A/C.
(2) Security First Bank: Sewer and Water Operation & Maintenance Accounts, Water Customer Deposit Account, City Payroll Account, City General Fund, City Investment Account, Repair & Replacement Account, Grant & Misc. Account, Bond Account, Golf Department, Boy Scout Trust, Crime Prevention Account, Insurance Reserve Account, 2015 Construction Fund, Sewer Equipment Reserve A/C, Water Equipment Reserve A/C, and General Fund Equipment Reserve A/C.
(3) Points West Bank: Investment Account, SASWA Landfill Closure Fund, Landfill Enterprise Fund, Paying Agent for Tax Increment Financing, Accounts Receivable, and Landfill Equipment Reserve A/C.
(4) Sidney Federal Savings & Loan: Boy Scout Trust.
(c) The following collateral is pledged by said banks and is approved by the Council and the joint custody receipts for this collateral are to be kept in the vaults of the City Treasurer's office and this place of safekeeping is hereby approved:
(1) Platte Valley Bank: See Irrevocable Letter of Credit-$9,900,000.
(2) Points West Bank: 486800DD4-$460,000; 3133EGHN8-$1,000,000; 3130AHZG1-$1,000,000; 3130AHZG1-$1,000,000; 97750HBDl-$120,000; 3138Y63C6-$1,100,000; 226493AP9-$125,000; 3128P7S79-$1,770,000; 3128P75Vl-$1,425,000; 3128P77L1-$1,700,000; 3140X5L76-$1,500,000.
(3) Security First Bank: 823732AA0-$90,000; 91912MCBl-$90,000; 899052LY8-$100,000; 971481NB8-$70,000; 80379FBQ3-$55,000; 803787BY5-$115.000; 80377BGE6-$105,000; 79517VAG6-$110,000; 782149BK3-$45,000; 75338PAK5-$815,000; 75816GT5-$480,000; 611583BS3-$1,020,000; 660142MY3-$300,000; 676271KE8-$35,000; 69038EAF7-$100,000; 69038AEG5-$34,000; 70105RBR7-$545,000; 69038EAH3-$16,000; 23922PDF5-$45,000; 207135UZ5-$740,000; 074146AC5-$10,000; 25928MCF2-$60,000; 23922NAR7-$130,000; 25931FCB1-$65,000; 259327R55-$585,000; 25931PAV7-$25,000; 3130AJA90-$2,340,000; 25937XAA0-$150,000; 3133EFN29-$1,200,000; 3137A4MT1-$1,000,000; 299260EF7-$500,000; 487573BH9-$430,000; 487573BJ5-$225,000; 498531HQ8-$60,000; 3137B0Q49-$1,100,000; 41420AFT5-$200,000; 420614AP4-$15,000; 43231YFZ4-$365,000; 38374BKG7-$1,500,00.
(Res. 921205. Passed 12-5-92; Res. 20190101. Passed 1-8-19; Res. 20190805. Passed 8-27-19; Res. 20200904. Passed 9-8-20.)