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HomeMy WebLinkAbout1993-055 CCR1 1 1 Member Celia Scott introduced the following resolution and moved its adoption: RESOLUTION NO. 93 -55 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 Marquette Bank Minneapolis Norwest Bank Minneapolis Norwest Bank Brooklyn Center First National Bank of St. Paul American National Bank of St. Paul Camden Norwest Bank 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 the city manager and 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. 4. that the city manager is Gerald G. Splinter and the city treasurer is Charles R. Hansen. April 12, 1993 Date Mayor 1 1 1 RESOLUTION NO.93 -55 ATTEST: Deputy Clerk The motion for the adoption of the foregoing resolution was duly seconded by Member Dave Rosene and upon vote being taken thereon, the following voted in favor thereof: Todd Paulson, Celia Scott, Dave Rosene, Barb Kalligher, and Kristen Mann; and the following voted against the same: none, whereupon said resolution was declared duly passed and adopted.