RESOLUTION #2007-113

DESIGNATING DEPOSITORIES OF BOROUGH FUNDS

BE IT RESOLVED by the Board of Commissioners of the Borough of Harvey Cedars, County of Ocean, that the below listed banking institutions are hereby designated as official depositories for the Borough of Harvey Cedars, wherein all public monies and other funds of the Borough shall be maintained and kept, as provided for by NJSA 40A:5-14.

BE IT FURTHER RESOLVED that said banking and savings institutions be and are hereby authorized to honor and pay checks, drafts, and warrants drawn on the several accounts in said banking institutions, when same are signed in the name of the Borough by the Mayor, the Commissioners, the Chief Financial Officer and the Municipal Clerk.

BE IT FURTHER RESOLVED that investments are to be made by the Chief Financial Officer or his/her designee at any of the below designated depositories.

Bank of America

Wachovia Bank

Commerce Bank

State of New Jersey Cash Management Fund

New Jersey ARM

PASSED ON:  December 18, 2007