HomeMy WebLinkAbout1990-010 CCR1
Member Philip Cohen introduced the following resolution and
moved its adoption:
RESOLUTION NO. 90 -10
RESOLUTION DESIGNATING DEPOSITORIES OF CITY FUNDS
BE IT RESOLVED by the City Council of the City of Brooklyn Center,
Minnesota, that Marquette Brookdale Bank be and is hereby designated as the
depository for the funds of the City of Brooklyn Center, Minnesota.
BE IT FURTHER RESOLVED that the following named banks are hereby
designated additional depositories to be used for investment purposes:
First National Bank of Minneapolis
Marquette Minneapolis Bank
Norwest Bank Minneapolis
First National Bank of St. Paul
American National Bank of St. Paul
First Western Bank
Camden Norwest Bank
First Minnesota Savings Loan Association
Midwest Federal Savings Loan Association
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 to the City, and approved by the City, by said depository.
BE IT FURTHER RESOLVED that the persons generally authorized by the
City Charter to act for the City in any of its business with the depository are
any persons holding office from time to time as city manager and city treasurer.
All checks drawn upon an account of the City shall be signed by both of the
above designated persons.
BE IT FURTHER RESOLVED that the city manager is Gerald G. Splinter and
the city treasurer is Paul W. Holmlund.
ATTEST.
January 8, 1990
Date
-Mayor
The motion for the adoption of the foregoing resolution was duly seconded by
member Jerry Pedlar and upon vote being taken thereon, the following
voted in favor thereof: Dean Nyquist, Celia Scott, Todd Paulson, Jerry Pedlar,
and Philip Cohen;
and the following voted against the same: none,
whereupon said resolution was declared duly passed and adopted.