HomeMy WebLinkAboutResolutions - 2014.04.30 - 21304MISCELLANEOUS RESOLUTION #14092 April 30, 2014
BY: Finance Committee, Torn Middleton, Chairperson
RE: TREASURER'S OFFICE AUTHORIZED DEPOSITORIES FOR PUBLIC FUNDS
TO: THE OAKLAND COUNTY BOARD OF COMMISSIONERS
Mr. Chairperson, Ladies and Gentlemen:
WHEREAS, State of Michigan, P.A. 40 of 1942, as amended, requires the Board of
Commissioners to provide by resolution for the deposit of all public monies coming into the hands of the
County Treasurer; and
WHEREAS, the Board of Commissioners' Miscellaneous Resolutions #6836, #7045,
#7428, #8030, #84150, #89005, #92155, #97246, #01178, #06005 and #08004 have authorized
depositories, and
WHEREAS, this Miscellaneous Resolution will supersede all of the Miscellaneous Resolutions
mentioned above; and
WHEREAS, many of the depositories have changed names, merged or combined with other
depositories; and
WHEREAS, the County Treasurer, Administration and Board of Commissioners share the
common goal of investing Oakland County tax dollars in Oakland County, whenever possible,
NOW THEREFORE BE IT RESOLVED that the Oakland County Board of Commissioners
designates the following named financial institutions as authorized depositories for public monies held
by the County Treasurer:
Bank of Birmingham
Bank of Michigan
Charter One
Chemical Bank
Clarkston State Bank
Comerica Bank
Crestmark Bank
Dearborn Federal Savings
Bank
Fifth Third Bank
First Independence Bank
First Merit Bank
Flagstar Bank
Hantz Bank
Huntington National Bank
Huron Valley State Bank
Independent Bank
J.P. Morgan Chase Bank
Key Bank
Level One Bank
Lotus Bank
mBank
Main Street Bank
Mercantile Bank
Northern Trust Bank
Oxford Bank
PNC Bank
The Private Bank
The State Bank
Sterling Bank and Trust
Talmer Bank and Trust
TCF National Bank
Wolverine Bank
Succeeding banks, as a result of mergers and or acquisitions or resulting from a name
change, from the above list, shall also be deemed as authorized.
In addition, any new financial institution that is formed in the County shall also be
deemed as authorized provided that the County Treasurer limits deposits to FDIC insurance
levels.
BE IT FURTHER RESOLVED that the authorized depositories are hereby authorized to
honor all checks, electronic transfers, or other automated instruments for payment of money
drawn on the various accounts when bearing or purporting the actual or facsimile signature or
authorization of the Treasurer of the County of Oakland or his designated deputies.
Chairperson, on behalf of the Finance and Personnel Corn
the foregoing resolution.
FINANCE COMMITTEE VOTE:
Motion carried unanimously on a roll call vote with Taub and Crawford absent.
Resolution #14092 April 30, 2014
Moved by Taub supported by Quarles the resolutions (with fiscal notes attached) on the Consent Agenda
be adopted (with accompanying reports being accepted).
AYES: Gershenson, Gosselin, Hatchett, Hoffman, Jackson, Long, Matis, McGillivray, Middleton,
Quarles, Runestad, Scott, Spisz, Taub, Weipert, Woodward, Zack, Bosnic, Dwyer. (19)
NAYS: None. (0)
A sufficient majority having voted in favor, the resolutions (with fiscal notes attached) on the Consent
Agenda were adopted (with accompanying reports being accepted).
I HEREBY APPROVE THIS Pit7SOLI,Mi.
CHIEF DEPUTY COUNTY EXkrovF
ACTING PURSUANT TO MCL 45.55A (/).
STATE OF MICHIGAN)
COUNTY OF OAKLAND)
I, Lisa Brown, Clerk of the County of Oakland, do hereby certify that the foregoing resolution is a true and
accurate copy of a resolution adopted by the Oakland County Board of Commissioners on April 30, 2014,
with the original record thereof now remaining in my office.
In Testimony Whereof, I have hereunto set my hand and affixed the seal of the County of Oakland at
Pontiac, Michigan this 30th day of April 2014.