WSP12331

• File Number: 8111.600
• Description: ARCA Annual Reports
• Basin: Arkansas
• Date: 12/13/1949
• Author: ARCA
• Title: First Annual Report Arkansas River Compact Administration for the Year 1949
• Water Supply Pro - Doc Type: Annual Report

APPENDIX "B"

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BANK DEPOSITS RESOLUTION

WHEREAS, the activities of the Arkansas River Compact Admin'
istration are financed by funds made av,)jJabJe by the States of Colorado
and Kansas, under the provisions of the Arkansas River Compact, and
such Administration is responsible and accountable to such States for
the proper handling and expenditure of such money; and
WHEREAS, appropriate security should be provided in the depo,it
of such funds in any bank or b<Lnks, designated by the Administration
as depository, in addition to the bond required of the Secretary-Treasurer
of the Administration;
NOW. THEREFORE BE IT RESOLVED, that if the Arkansa,
River Compact Administration should request and recei....e a total <l.ffiOunt
of funds from the States of Colorado and Kansas exceeding $5,000 in its
hands at anyone time, then arrangements shall be made by the Secretary..
Treasurer of the Administration with the depository bank, in the usual
anel approved manner, for the protection of such deposit, or in lieu of
such tlrrangements, Administration funds, where the total amount in its
h;]nds at anyone time exceeds $5,0001 shall be deposited in two banks,
approved as depositories by the Administration, it being the intent and
purpose of this resolution to assure protection of Administration funds
on deposit in banks which exceed the amount .secured under the Federal
Deposit Insurance Corporation.

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