The Bank will maintain all accounts, except any accounts designated by the Treasurer as a non-interest-bearing account pursuant to law, as interest bearing checking accounts. The interest rate designated in this agreement will be paid on closing ledger balances in the accounts and no reserve requirement will be assessed. These accounts will be fully collateralized as required by Missouri law in Sections 110.020, 110.010, and 30.270, RSMo. An account analysis can be provided for each account. The interest rate paid on closing ledger balances will be as follows: The Bank will pay interest on all Christian County checking accounts current and future (currently 16 accounts: 9 for Treasurer, 4 for Collector, 2 for County Clerk, and 1 for the Recorder of Deeds) and all Christian County savings accounts current and future (currently 2 for the County Collector) covered by the Depository Agreement. As requested, rates are quoted in relation to the most recent Overnight Federal Funds Rate, as published in the Wall Street Journal, adjusted weekly.
