1961-100 Setting up Account with Community Federal Savings and Load Associaton of Riviera Beach
RESOLUTION N0. 100
A RESOLUTION OF THE VILLAGE COUNCIL OF THE VILLAGE OF NORTH PALM
BEACH, FLORIDA, CONCERNING SETTING UP AN ACCOUNT WITI-I COMMUNITY FEDERAL
SAVINGS AND LOAN ASSOCIATION OF RIVIERA BEACH.
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WHEREAS, the Village budgeted in the current year the sums of
money needed in that year to meet monthly payments due by the Village under
its mortgage note on the Village Hall; and
WHEREAS, to the extent such funds are now on hand, they are on
deposit in non-interest bearing form with First American Bank; and
WrIEREAS, it is believed they should be invested in interest bearing
deposits, such deposit to be withdrawable as monthly payments uridex such
mortgage accrue; and
WHEREAS, the Village is authorized by law to invest such funds in
an investment share account of the Community Federal Savings and Loan
Asso-ciation;
NOW, THEREFORE, BE IT AND IT IS HEREBY RESOLVED BY THE VILLAGE COUNCIL
OF THE VILLAGE OF NORTH PALM BEACH, FLORIDA:
Section 1. The Village Manager and other officials of the Village
are hereby authorized and directed forthwith to transfer the above described
funds and to deposit the same in an investment share account with Community
Federal Savings and Loan Association, Riviera Beach, Florida, subject to
being withdrawn therefrom as needed to meet the above described mortgage
payments.
PASSED AND ADOPTED this 14th day of February, 1961.
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Mayor
(SEAL)
ATTEST:
~~.. E~S ems. .
Village Clerk
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