HomeMy WebLinkAbout1996-002 EDARCommissioner Kathleen Ca
rmod introduced the following resolution and moved its
adoption:
EDA RESOLUTION NO. 96 02
RESOLUTION DESIGNATING DEPOSITORIES OF EDA FUNDS
WHEREAS, Section 7.01 of the City Charter provides the Economic. Development
Authority Commission with authority over EDA funds, including the safekeeping and
disbursement of public moneys; and
WHEREAS, Section 7.10 of the City Charter provides that EDA funds shall be
disbursed by check bearing the actual or facsimile signature of the EDA treasurer or assistant
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, First National Bank of Omaha and Riverside
Bank are hereby designated as the depositories of funds for the Economic
Development Authority.
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.
2. that the EDA treasurer and assistant treasurer are authorized by the EDA
Commission to act for the EDA in any of its business with the depositories. All
checks drawn upon an account of the EDA shall bear the actual or facsimile signature
of the EDA treasurer or assistant treasurer.
3. that the EDA treasurer is Myrna Kragness and the assistant treasurer is
Charles R. Hansen.
January 8, 1996
Date 0 President' 0
The motion for the adoption of the foregoing resolution was duly seconded by commissioner
Kristen Mann and upon vote being taken thereon, the following voted in favor
thereof: Myrna Kragness, Kathleen Carmody, Debra Hilstrom, and Kristen Mann;
and the following voted against the same: none
whereupon said resolution was declared duly passed and adopted.
resolution \edaresol \deposit