HomeMy WebLinkAbout2000-001 CCRMember Kay Lasman introduced the following resolution and moved its
adoption:
RESOLUTION NO.QC)-~
RESOLUTION DESIGNATING UPOSTTORIES OF CITY FUNDS
WHEREAS, Section 7.01 of the City Charter provides the City Council with authority
over City funds, including the safekeeping and disbursement of public moneys; and
WHEREAS, Section 7.10 of the City Charter provides that City funds shall be
disbursed by check bearing the actual or facsimile signature of the city manager and the city
treasurer.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Brooklyn
Center, Minnesota, as follows:
1. that Marquette Bank Brookdale is hereby designated as the depository of the
funds of the City of Brooklyn Center.
2. that the following named banks and brokers are hereby designated additional
depositories to be used for investment purposes:
Federal Reserve Bank of Minneapolis
US Bank, National Association
First Trust Bank of St Paul
Wells Fargo Bank Minneapolis
Firstar Bank of Minnesota
Minnesota Municipal Money Market Fund
Dain Bosworth
Salomon Smith Barney
Firstar Bank of Brooklyn Center
Twin City Federal Savings & Loan Association
The city treasurer is authorized to deposit City funds in accounts guaranteed by the
Federal Deposit Insurance Corporation or the Federal Savings and Loan Insurance
Corporation and such additional funds not to exceed the amount of 90% of collateral
pledged by the depository to the City, and approved by the City.
3. that US Bank is hereby designated as the clearinghouse depository for credit
card sales of the Liquor Stores.
RESOLUTION NO. 00-01
4. that Chase Merchant Services, LLC. is hereby designated as the clearinghouse
depository for credit card sales of the Recreation Department and Golf Course.
5. that the City Council authorizes the city manager, the city treasurer, or the
deputy city treasurer to act for the City in any of its business with the depositories. All
checks drawn upon an account of the City shall bear the actual or facsimile signature
of the city manager and the city treasurer.
6. that the city manager is Michael J. McCauley, the city treasurer is Charles R.
Hansen, and the deputy city treasurer is Robert M. Sundberg.
January 10, 2000
Date
ATTEST QJ.j-)Lq
City Clerk
Mayor
The motion for the adoption of the foregoing resolution was duly seconded by member
Ed Nelson and upon vote being taken thereon, the following voted in favor
thereof.
Myrna Kragness, Debra Hilstrom, Kay Tasman, Ed Nelson, and Robert Peppe;
and the following voted against the same:
none;
whereupon said resolution was declared duly passed and adopted.