HomeMy WebLinkAbout1987-011 EDAR1
Member Gene Lhotka introduced the following resolution
and moved its adoption:
RESOLUTION DESIGNATING DEPOSITORIES OF EDA FUNDS
BE IT RESOLVED by the Economic Development Authority of Brooklyn
Center, Minnesota (EDA) that the First Brookdale State Bank be and is hereby
designated as the depository for the funds of the Economic Development Authority
of Brooklyn Center, Minnesota.
BE IT RESOLVED that the following named banks are hereby designated
additional depositories to be used for investment purposes:
First National Bank of Minneapolis
F M Marquette National Bank of Minneapolis
Norwest Bank Minneapolis
First National Bank of St. Paul
American National Bank of St. Paul
Fidelity Bank and Trust Company
First Western Bank
Camden Norwest Bank
First Minnesota Savings Loan Association
Midwest Federal Savings Loan Association
Twin City Federal Savings Loan Association
The Assistant Treasurer is authorized to deposit EDA funds in the
named depositories to the extent that repayment is guaranteed by the Federal
Deposit Insurance Corporation or the Federal Savings and Loan Insurance Corpora-
tion and such additional funds not to exceed the amount of 90% of collateral
pledged to the EDA and approved by the EDA, by said depository.
BE IT FURTHER RESOLVED that the persons authorized by the EDA to
act for the EDA in any of its business with the depository are any persons
holding office from time to time as Treasurer and Assistant Treasurer. All
checks drawn upon an account of the EDA shall be signed by both of the above
designated persons.
BE IT FURTHER RESOLVED that the Treasurer is Dean A. Nyquist and
the Assistant Treasurer is Paul W. Holmlund.
December 14, 1987
Date
EDA RESOLUTION NO. 87 11
rtes
The motion for the adoption of the foregoing resolution was duly seconded
by member Bill Hawes and upon vote being taken thereon, the
following voted in favor thereof: Dean Nyquist, Gene Lhotka, Celia Scott,
Bill Hawes, and Rich Theis;
and the following voted against the same: none,
whereupon said resolution was declared duly passed and adopted.