HomeMy WebLinkAbout2000-002 EDAR1
Commissioner Kay Lasman
adoption:
introduced the following resolution and moved its
EDA RESOLUTION NO. 00 -02
RESOLUTION DESIGNATING DEPOSITORIES OF EDA FUNDS
WHEREAS, the Economic Development Authority Commission 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 city manage and city
treasurer.
NOW, THEREFORE, BE IT RESOLVED by the Economic Development Authority
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 Economic Development Authority.
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% 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 city manager and city treasurer are authorized by the EDA Commission
to act for the EDA in any of its business with the depositories.
January 10, 2000
The motion for the adoption of the foregoing resolution was duly seconded by commissioner
Ed Nelson and upon vote being taken thereon, the following voted in favor thereof:
Myrna Kragness, Debra Hilstrom, Kay Lasman, Ed Nelson, and Robert Peppe;
and the following voted against the same: none;
whereupon said resolution was declared duly passed and adopted.
resolution\edaresol\deposit
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