[HISTORY: Adopted by the Borough Council of the Borough of Lehighton 1-23-1989 by Res. No. R-003-89. Amendments noted where applicable.]
The Pennsylvania Local Government Trust Fund (PLGIT) shall be hereby designated as the depository for investments from any Borough account.
[Amended 7-24-2000 by Res. No. 012-2006; 7-23-2001 by Res. No. 009-2001; 5-19-2003 by Res. No. 009-2003; 5-24-2004 by Res. No. 008-2004; 9-27-2004 by Res. No. 014-2004; 1-24-2005 by Res. No. 003-2005; 5-23-2005 by Res. No. 001-2005; 3-25-2013 by Res. No. 004-2013; 3-27-2017 by Res. No. R-006-2017]
The following institutions are approved as depositories for funds from any Borough accounts:
This list may be changed from time to time by resolution of the Lehighton Borough Council.
[Amended 7-23-2001 by Res. No. 009-2001; 3-25-2013 by Res. No. 004-2013]
Two "live" signatures (Use of signature stamps is expressly prohibited.) shall appear on all Borough checks. These signatures shall be any two of the following: Borough Council President, Borough Council Vice President, Borough Manager, Borough Treasurer or Borough Assistant Secretary/Treasurer.
The Borough Manager and/or Borough Treasurer shall be hereby authorized and directed to invest any idle Borough funds in either certificates of deposit, time-opened deposits, treasury bills or any other investment permitted by law in order to obtain the highest maximum yield of interest on Borough funds.