The Board of Education shall adopt a resolution, in the time period required by law but not to exceed every five (5) years, designating those banks and other depositories of public funds in which the Treasurer may deposit interim funds of the Board, and authorizing the Treasurer to enter agreements with said banks and other depositories on behalf of the Board. The Board shall also make interim changes if it is in the Board’s best interest to appoint an additional depository or if one (1) or more of the designated depositories are found to be insolvent or operating in an unsound manner.

R.C. 135.12

Adopted 6/14/01
Revised 10/11/01