HomeMy WebLinkAbout1995-002 CCR1
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Member Barb Kalligher introduced the following resolution and moved its adoption:
RESOLUTION NO. 95 -02
RESOLUTION DESIGNATING DEPOSITORIES 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 are hereby designated additional depositories to be
used for investment purposes:
First National Bank of Minneapolis
First Trust Bank of St .Paul
Federal Reserve Bank of Minneapolis
Dain Bosworth
Norwest Bank Minneapolis
American National Bank of St. Paul
Smith Barney Shearson
7uran Moody, Inc.
Firststar Bank of Brooklyn Center
Investors Savings Bank of Brooklyn Center
Metropolitan Federal Bank FSB of Brooklyn Center
Twin City Federal Savings Loan Association
The city treasurer is authorized to deposit City funds 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 First National Bank of Omaha is hereby designated as the clearinghouse
depository for credit card sales of the Liquor Stores.
4. that the city manager, city treasurer, and deputy city treasurer are authorized by the
City Council 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.
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RESOLUTION NO. 95 -02
5. that the city manager is Gerald G. Splinter, the city treasurer is Charles R. Hansen,
and the deputy city treasurer is Timothy R. Johnson.
January 9, 1995
Date
ATTEST:
Deputy Clerk
The motion for the adoption of the foregoing resolution was duly seconded by member
Kristen Mann and upon vote being taken thereon, the following voted in favor thereof:
Myrna Kragness, Barb Kalligher, Kristen Mann, Debra Hilstrom, and Kathleen Carmody;
and the following voted against the same: none,
whereupon said resolution was declared duly passed and adopted.