[HISTORY: Adopted by the Village Board of the Village of Deposit 3-12-1996. Amendments noted where applicable.]
[Amended at time of adoption of Code (see Ch. 1, General Provisions, Art. I)]
The Village Board of Trustees directs the President to appoint a Village and EDRLF Fund(s) Investment Advisory Committee of not less than three persons, whose terms of office shall be annual, as follows:
A. 
Village Mayor.
B. 
Village Deputy Mayor.
C. 
Village Clerk-Treasurer.
[Amended 1-12-1999 by L.L. No. 1-1999]
A. 
The following banks be and hereby are designated as depositories for all Village bank accounts.[1]
[1]
Editor's Note: The list of designated banks is on file and available for review in the Village offices.
B. 
The Village of Deposit Board of Trustees may, as it sees fit, amend the list of depositories.
The Village of Deposit Clerk-Treasurer be and hereby is authorized to invest money, not needed temporarily, in United States Treasury obligations and various savings accounts and certificates of deposit at prevailing interest rates in any bank authorized for the deposit of Village funds as per this chapter. The total deposits, excluding United States Treasury obligations, are not to exceed the amounts authorized by this chapter and are to be secured by obligations of the United States of America, the State of New York, or political subdivisions thereof, to the extent deposits exceed FDIC coverage, pursuant to § 11 of the General Municipal Law and State Comptroller's Financial Management Guide.
[Amended 1-12-1999 by L.L. No. 1-1999]
The Mayor, Deputy and Clerk-Treasurer are hereby all authorized to sign and execute, on behalf of the Village, any and all transactions with respect to all Village-maintained funds, and Deputy Clerk-Treasurer is hereby authorized to sign and execute, on behalf of the Village, all general, water and sewer fund accounts, with the exception of money market accounts.
The Village Clerk-Treasurer shall monthly monitor collateral pledged by banks as to adequacy and custodial management.