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Lenox council approves Resolution 24-31, raises authorized public deposit limit to $10 million
Summary
The Lenox City Council unanimously approved Resolution 24-31 designating depositories of public funds and increased the authorized deposit amount to $10,000,000.00. The vote was 4–0 with one member absent.
The Lenox City Council approved Resolution 24-31, designating depositories for the city’s public funds and increasing the authorized deposit limit to $10,000,000.00.
Councilmember Peterson moved for approval; Hodges seconded and the resolution passed unanimously among the four members present. The minutes record that "this amount was increased to $10,000,000.00."
The action updates the city’s list of authorized financial institutions and the maximum aggregate amount that may be held in those depositories. The minutes supplied do not list the specific depository institutions now designated under the resolution; that information is typically included in the resolution text or accompanying administrative record.
City Clerk Dawne Bowman is listed as present in the minutes; the clerk’s office customarily implements administrative steps after council adoption, including notifying banks and updating official files.
