HomeMy WebLinkAbout1993-008 EDAR1
Commissioner Celia Scott introduced the following resolution and moved its
adoption:
EDA RESOLUTION NO. 93 -08
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 7.10of 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 Todd Paulson and the assistant treasurer is Charles R.
Hansen.
April 12, 1993
Date
Todd Paulson, President
The motion for the adoption of the foregoing resolution was duly seconded by Commissioner
Barb Kalligher and upon vote being taken thereon, the following voted in favor thereof:
Todd Paulson, Celia Scott, Dave Rosene, Barb Kalligher, and Kristen Mann;
and the following voted against the same: none,
whereupon said resolution was declared duly passed and adopted.