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' • FINANCIAL MANAGEMENT DEPARTMENT <br /> #99 -10 <br /> April 15, 1999 <br /> To: The Honorable Mayor and City Council Members <br /> From: James L. Williams, Jr., City Manager ��G <br /> Beth B. Couter, Director of Financial Management �j�' <br /> Subject: Joint Custody Account <br /> The Federal Reserve of Chicago has requested that First National Bank of <br /> Decatur and the City of Decatur renew their joint custody account authorizations. This is a <br /> routine matter which the Federal Reserve requires of joint custody accounts every few years. <br /> The First National Bank of Decatur pledges collateral investments to the City of Decatur with <br /> market values equal to the fair market value of the investments the City has with First National <br /> Bank of Decatur. These collateralized investments are kept at the Federal Reserve of Chicago in <br /> a joint custody account for safe keeping on the City's behalf. <br />