[HISTORY: Adopted by the Board of Trustees of the Village of Sea Cliff 9-17-1979 by L.L. No. 5-1979, effective 10-15-1979. Amendments noted where applicable.]
With respect to demand deposits of Village moneys in any bank, trust company or other depository, the Village Treasurer may, at his discretion, require such depository to furnish security for such demand deposits. Such security shall consist of the bonds, certificates or notes of the United States of America or any obligation fully guaranteed or insured as to interest and principal by the United States of America acting through an agency, subdivision, department or division thereof, the State of New York or of the Village the funds of which are deposited with such depository. Such bonds, certificates or notes shall be subject to the approval of the Village Treasurer and shall be deposited in such place and held under such conditions as the Village Treasurer may determine. In lieu of such deposit of such bonds, certificates or notes, the Treasurer may, in his discretion, accept a bond with sufficient surety for the security of such deposit of funds.
[Added 5-9-2011 by L.L. No. 2-2011]
New York State Village Law § 4-412 provides that a Village Board of Trustees may take all measures and perform all acts deemed expedient or desirable for the good government of the Village, its management and business and the benefit of trade. In furtherance of such legislative purpose, the Board of Trustees hereby establishes a publicity fund. The amount of such fund shall be set by the Board of Trustees from time to time.