RESOLUTION #09-141
Designating City Depositories
WHEREAS, The City of Monticello, Iowa is an incorporated City within Jones County, Iowa; and
WHEREAS, The Monticello City Council is required by the State of Iowa to designate City depositories and the maximum amounts for each depository; and
WHEREAS, The city staff recommends the following depositories and amounts be set:
Name of Depository: Maximum Deposit Maximum Deposit
And Location In Effect Under This
Prior Resolution: Resolution:
Regions Bank $7,500,000.00 $7,500,000.00
200 W 1st St, Monticello, IA
Citizens State Bank $6,500,000.00 $6,500,000.00
117 W 1st St, Monticello, IA
Ohnward Bank & Trust $10,000,000.00 $10,000,000.00
305 S Main St, Monticello, IA
Bank of the West $6,500,000.00 $6,500,000.00
111 E 1st St, Monticello, IA
Security State Bank $6,500,000.00 $6,500,000.00
216 W 1st St, Monticello, IA
NOW THEREFORE, BE IT RESOLVED that this City Council of Monticello, Iowa does hereby approves the Depositories and Amounts effective October 26, 2009.