6140 - DEPOSITORY AGREEMENTS

The Governing Board shall adopt a resolution at least every five (5) years designating those banks and other depositories of public funds in which the Treasurer/CFO may deposit active and/or interim funds of the ESC, and authorizing the Treasurer/CFO to enter agreements with said banks and other depositories on behalf of the Governing Board. The Governing Board shall also make periodic changes if it is in the Governing Board’s best interest to appoint an additional depository or if one (1) or more of the designated depositories are found to be insolvent or operating in an unsound manner.

© Neola 2000