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HomeMy WebLinkAbout1988-001 CCR1 1 Member Celia Scott resolution and moved its adoption: RESOLUTION NO. 88 -01 introduced the following RESOLUTION DESIGNATING DEPOSITORIES OF CITY FUNDS BE IT RESOLVED by the City Council of the City of Brooklyn Center, Minnesota, that the First Brookdale State 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 F &M Marquette National Bank of Minneapolis 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 in the named depositories to the extent that repayment is 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 P.ul W. Holmlund.-7 January 11, 1988 Date ATTEST: ��t <J Clerk May „„--f The motion for the adoption of the foregoing resolution was duly seconded by member Bill Hawes and upon vote being taken thereon, the following voted in favor thereof: Dean Nyquist, Gene Lhotka, Celia Scott, Bill Howes, d Rich Theis; t and the following voted` agains the same: none, whereupon said resolution was declared duly passed and adopted.