HomeMy WebLinkAbout1972-005 CCR Member Vernon Ausen introduced the following resolution
and moved its adoption:
RESOLUTION NO. 72 -5
RESOLUTION DESIGNATING THE BROOKLYN CENTER STATE
BANK A DEPOSITORY OF CITY FUNDS
BE IT RESOLVED by the City Council of the City of Brooklyn Center
that the Brooklyn Center State Bank be and is hereby designated as a depository
for the funds of the City of Brooklyn Center, Minnesota. The City Treasurer
is authorized to deposit City funds therein to the extent that repayment is
guaranteed by the Federal Deposit Insurance Corporation and such additional
funds not to exceed the amount of 90% of collateral pledged to the City and
approved by the City Council by said bank.
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 bank,
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 Donald G. Poss,
and the City Treasurer is Paul W. Holmlund.
BE IT FURTHER RESOLVED that this designation is effective through
December 31, 1972.
f o'er
January 3, 1972
Date Mayor
ATTEST:
Cfe rk
The motion for the adoption of the foregoing resolution was duly seconded
by member Howard Heck and upon vote being taken thereon, the following
voted in favor thereof: Philip Cohen, John Leary, Vernon Ausen,
Howard Heck and Maurice Britts;
and the following voted against the same: none,
whereupon said resolution was declared duly passed and adopted.