HomeMy WebLinkAbout2001-003 EDAR1
Member Ed Nelson introduced the following resolution and moved its adoption:
EDA RESOLUTION NO. 2001 -03
RESOLUTION DESIGNATING DEPOSITORIES OF EDA FUNDS
WHEREAS, the Economic Development Authority (EDA) has authority over
EDA funds, including the safekeeping and disbursement of public moneys; and
WHEREAS, Section 7.10 of the City Charter provides that City funds shall be
disbursed by check bearing the actual or facsimile signature of the Executive Director and
Assistant Treasurer.
NOW, THEREFORE, BE IT RESOLVED by the EDA in and for the City of
Brooklyn Center, Minnesota, as follows:
1. That Marquette Bank Brookdale is hereby designated as the depository of funds
of the EDA.
2. That the EDA Assistant Treasurer is authorized to deposit EDA funds to the
extent that repayment is guaranteed by the Federal Deposit Insurance Corporation
and such additional funds not to exceed the amount of 90 percent of collateral
pledged by the depository to the EDA.
3. That the EDA Assistant Treasurer is authorized to deposit surplus EDA funds into
the City's pooled investment account and invest them according to the policy and
restrictions pertaining to that account.
4. That US Bank is hereby designated as the clearinghouse depository for credit card
sales of the Earle Brown Heritage Center.
5. That the Executive Director and Assistant Treasurer are authorized by the EDA to
act for the EDA in any of its business with the depositories.
January 22, 2001
Date
residen
The motion for the adoption of the foregoing resolution was duly seconded by member Kay
Lasman; and upon vote being taken thereon, the following voted in favor thereof:
Myrna Kragness, Kay Lasman, Ed Nelson, and Bob Peppe;
and the following voted against the same: none;
whereupon said resolution was declared duly passed and adopted.