HomeMy WebLinkAbout1986-001 CCRMember Celia Scott introduced the following resolution and moved its
adoption:
RESOLUTION NO. 86 -01
RESOLUTION DESIGNATING DEPOSITORIES OF CITY FUNDS
BE IT RESOLVED by the City Council of the City of Brooklyn Center 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
Fidelity Bank and Trust Company
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 Paul W. Holmlund.
January 13, 1986
Date Mayo�^if�
ATTEST: /,ham/
Clerk
RESOLUTION NO. 86 -01
The motion for the adoption of the foregoing resolution was duly seconded
by member Gene Lhotka and upon vote being taken thereon, the following
voted in favor thereof: Dean Nyquist, Gene Lhot_ka, Celia Scott, Bill Hawes,
and Rich Theis;
and the following voted against the same: none,
whereupon said resolution was declared duly passed and adopted.
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