HomeMy WebLinkAbout1999-004 CCRMember Kay Lasman introduced the following resolution and moved its
adoption:
RESOLUTION NO. qq-04
RESOLUTION DESIGNA NG DEPOSITO MS 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
Norwest Bank Minneapolis
Firstar Bank of Minnesota
Minnesota Municipal Money Market Fund
Dain Bosworth
Smith Barney
Juran & Moody, Inc.
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 Chase Merchant Services, LLC. is hereby designated as the clearinghouse
depository for credit card sales of the Liquor Stores.
RESOLUTION NO. 99_oz~__
4. 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.
5. that the city manager is Michael J. McCauley, the city treasurer is Charles R.
Hansen, and the deputy city treasurer is Timothy R. Johnson.
Jarniary 11 , 1999
Date Mayor
ATTEST:2kwU ~
City Clerk
The motion for the adoption of the foregoing resolution was duly seconded by member
Robert Peppe and upon vote being taken thereon, the following voted in favor
thereof:
Myrna Kragness, Debra Hilstrom, Kay Lasman, E Nelson, and Robert Peppe;
and the following voted against the same:
none,
whereupon said resolution was declared duly passed and adopted.