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1
Member Earl Rydberg
moved its adoption:
introduced the following resolution and
RESOLUTION NO. 68 -6
RESOLUTION DESIGNATING THE FIRST NATIONAL BANK OF
MINNEAPOLIS A DEPOSITORY OF CITY FUNDS
BE IT RESOLVED by the City Council of the City of Brooklyn Center
that the First National Bank of Minneapolis 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:
January 2, 1968
Date
Clerk
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, Earl Rydberg, Howard
Heck and Theodore Willard,
and the following voted against the same: none,
whereupon said resolution was declared duly passed and adopted.