HomeMy WebLinkAbout1988-001 EDAR1
1
Member Gene L'notka
resolution and moved its adoption:
EDA RESOLUTION NO. 88 -01
RESOLUTION DESIGNATING DEPOSITORIES OF EDA FUNDS
BE IT RESOLVED by the Economic Development Authority
(EDA) of Brooklyn Center, Minnesota, 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
First Western Bank
Camden Norwest Bank
First Minnesota Savings Loan Association
Midwest Federal Savings Loan Association
Twin City Federal Savings Loan Association
The treasurer or 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 Corporation
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.
introduced the following
January 11, 1988
Date Presid n'
The motion for the adoption of the foregoing resolution was duly
seconded by member Rich Theis
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.
and upon vote being taken