HomeMy WebLinkAbout1968-005 CCRMember Theodore Willard introduced the following resolution and
moved its adoption:
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; and
BE IT FURTHER RESOLVED that the City Manager is Donald G. Poss
and the City Treasurer is Paul W. Holmlund; and
BE IT FURTHER RESOLVED that this designation is effective through
December 31, 1968.
ATTEST:
The motion for the adoption of the foregoing resolution was duly seconded
by member John Leary and upon vote being taken thereon, the following
voted in favor thereof: Philip Cohen, John Leary, Earl Rydberg, Howard Heck
and Theodore Willard,
and the following voted against the same: none,
whereupon said resolution was declared duly passed and adopted.
January 2, 1968
Date
RESOLUTION NO, 68 -5
RESOLUTION DESIGNATING THE BROOKLYN CENTER STATE BANK
A DEPOSITORY OF CITY FUNDS