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<br />APPENDIX "B" <br /> <br />* * * * <br /> <br />BANK DEPOSITS RESOLUTION <br />(Adopted October 20, 1950) <br /> <br />***** <br /> <br />WHEREAS, the activities of the Arkansas River Compact Ad- <br />ministration are financed by funds made available by the States of Colo- <br />rado and Kansas, under the provisions of the Arkansas River Compact, <br />and such Administration is responsible and accountable to such States <br />for the proper handling and expenditures of such money; and <br /> <br />WHEREAS, appropriate security should be provided in the de- <br />posit of such funds in any bank or banks, designated by the Administra- <br />tion as depository, in addition to the bond required of the Secretary' <br />Treasurer of the Administration; <br /> <br />NOW, THEREFORE BE IT RESOLVED, That if the Arkansas <br />River Compact Administration should request and receive a total <br />amount of funds from the States of Colorado and Kansas exceeding <br />$10.000 in its hands at anyone time, then arrangements shall be made <br />by the Secretary' Treasurer of the Administration witn the depository <br />bank, in the usual and approved manner, for the prot~ction of such <br />deposit, or in lieu of such arrangements, Administration funds. where <br />the total amount in its hands at anyone time exceeds $10,000 shall be <br />deposited in two banks, approved as depositories by the Administration.. <br />it being the intent and purpose of this resolution to assure protection <br />of Administration funds O!l deposit in banks whiLh exceed the amount <br />secured under the Federal Deposit Insurance Corporation. <br /> <br />18 <br />