The City of Monticello, Iowa
RESOLUTION #2023-57
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:
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
F & M Bank $ 6,500,000.00 $10,000,000.00
111 E 1st St, Monticello, IA
Fidelity Bank & Trust $ 6,500,000.00 $ 6,500,000.00
216 W 1st St, Monticello, IA
DuTrac Community Credit Union $ 250,000.00 $ 250,000.00
337 S Main St, Monticello, IA
NOW THEREFORE, BE IT RESOLVED that this City Council of Monticello, Iowa does hereby approve the Depositories and Amounts effective April 17, 2023.
IN TESTIMONY WHEREOF, I have hereunto subscribed my name and caused the Great Seal for the City of Monticello, Iowa to be affixed. Done this 17th day of April 2023.
David Goedken, Mayor
Attest:
Sally Hinrichsen, City Clerk/Treasurer