R96-104 AUTHORIZING AGREEMENTS - Laserfiche WebLink

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• , . DEPOSITORY INSTITUTION, the CITY TREASURER shall be �iven a power of attorney authorizina transfer or liquidation of the securities utilized to collateralize deposits and placed in custodial account of CUSTODIAI. Ii�1STITtiTION. If the security is transferred, o�vnership of the security will transfer to the CITY. If the security is liquidated, any proceeds over the value of the defaulted amount of the matured investment, includin� accrued interest, plus expenses related to the liquidation transaction, shall be returned to the DEPOSITORY I�iSTITUTION. 6. STATE�IENTS. The DEPOSITORY I�ISTITLJTION aarees to h.irnish to the CITY a statement listin� a description of the securities pledQed and held in safekeeping in the CUSTODIAI. I�iSTITUTION on at least a quarterly basis. The statement �vill include par value, market value, interest rate and maturiry date of the securities held in safekeepina. The same statement `vill also be available upon demand of the CITY. 7. SUBSTITUTION. The substitution or eYchanQe of like securities can be done without prior �vritten or oral notice from the CITY TREASURER, provided the CITY has aranted written notice grantinQ the authorization to the DEPOSITORY INSTITUTION. A �vritten notice stating the par value, interest rate, maturity date and � market value at date of substitution must be sent to the CITY by the DEPOSITORY INSTITUTION �vithin five (5) days of any substitution or exchange transaction. 8. FIN��tCIAL POSITION. The DEPOSITORY INSTITUTION will provide a statement of its financial position on at least a quarterly basis. The DEPOSITORY I�ISTITLTTION will provide an annual statement audited by its e:�ternal auditors includina a statement by its eYternal auditors as to its "fair presentation". 9. DIRECTOR AUTHORIZATION. The DEPOSITORY INSTITUTION represents and �varrants that this a�reement is made pursuant to and is duly authorized by the Board of Directors of the DEPOSITORY INSTITUTION. 10. NON-ASSIGNABILITY. The collateral a�reement is not assignable in whole or in part but is binding on the parties hereto, their successors and assigns. TREASURER. CITY OF DECATUR, ILLINOIS gy; , Beth Couter, Treasurer DEPOSITORY INSTITUTION By: , Larry Harshbaraer, Senior Vice President 3