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DESIGNATION AND AGREE ri NT OF COUNTY DEPOSITORY FOR THE BOARD OF COUNTY COMMISSIONERS Under Chapter 13G, Florida Statutes, as amended. STATE OF FLORIDA COi.;NT7i OF_ Indian River THIS AGREEMENT, made and entered into this, the 6th day of Apr i 1 , A. D. 19!�7_ by and between the Vero Beach Nat iona I' Bank located at 1.750 South Federal Hi hway,* Vero Beach, Fla .-the Board of County Commissioners of the County of Indian River and the Comptroller, State of Florida. WITNESSETH: That the said Bank on the 6th day of- April A. D. 19 77 is he. eby designated a County Depository for Indian River County, Florida, as provided by law. This designation and agreement shall continue in effect until cancelled or discontinued by any party thereto, and until it has fully accounted for all funds deposited therein. 'If cancelled or discontinued by any party, the other parties shall be notified. The funds hereinabove referred to shall include: county funds, funds of all county officers, and funds of the county board of public instruction; the enurneration of said funds being herein :Wade, not by way of limitation, but of illustration, and it being the intent hereof that all funds of such county or of the board of county commissioners or the several county- officers or o. the board of public it of such county, shah be included. the bank does hereby agree to deposit to the credit of the Comptroller of the State of Florida acceptable securities or trust agreements sufficient to adequately secure deposits. It is further agreed tC.at the depository may substitute any acceptable securities or trust agreements. The securities pledgee: are to be su:ficient to adequately secure the funds and may be increased or decreased as the funds are increased or decreased. i The said securities or trust agreements therefor shall be subject to the approval of the CvnptrolIer of the State of F iorida, and shall be deposited with and 'held by him for the purpose of guarani : i g the faithful perfcr:r.a ice o: its duties as said Depository, as prescribed by law and such regulations as may be made by the Comptroller. It is agreed by the parties hereto that in case of a default upon the part of said Depository, or a failure upon its part to pay any warrant or order duly drawn upon it, when funds have been previously deposited with it in suf ficient amount to pay said warrant or order, that said Board may after giving ter. (10) days notice to said Depository of its intention to do so, request the State Comptroller to sell at public or private sale, at the optior. o: the Comptroller, a sufficient number and quantity of said securities, c: a other secur:iies pledged. substituted for and held in lieu thereof, to fully pay and liquidate the amount of said deposit infull. any excess over said deposit received upon such sale, after paymentof all cost incurred in making safe, to be immediately paid over to said Depository. IN WITNESS WHEREOF, The sainle- this agreement to be signed by its President and its Cashier, and has caused its corporate seal to ye affixed hereto, and the said The Doard of County Commissioners for the County of I nd i an R i ver State o: Florida, has caused its name to be hereunto signed by its Chairman, attested by the Cleric -'of Board, and has caused the seal of said Board to be affixed hereto, and the Comptroller has hereunto set his hard and affixed his official seal this the day and year first above written. Attest: Cashier. At test : Clerk. (Board Seal) APR 61977 By_ _( 11 , 1� a, President. TYE BOARD OF COUNTY C0M51IjS10\ERS 9 COUNTY OF STATE OF FLORIDA. Chairman. By: (Bank Sear Comptroller, State of Ftotiiia (Comptroller's Seal)