HomeMy WebLinkAbout2005-058 CCRadoption:
Member Kathleen Carmody introduced the following resolution and moved its
RESOLUTION NO. 2005-58
RESOLUTION DESIGNATING ADDITIONAL DEPOSITORITES OF CITY
FUNDS
WHEREAS, the City Council of the City of Brooklyn Center adopted a resolution on
10 January 2005 naming specific depositories for funds of the City as required by Minnesota Statutes
Section 427.02 and indicated by Section 7.01 of the City Charter; and
WHEREAS, additional depositories for investment purposes are available to the City
and are used by other municipalities within the State of Minnesota; and
WHEREAS, these additional depositories must be authorized by the City Council
prior to investments being made with those depositories.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Brooklyn Center that the following named brokers are hereby designated as additional depositories to
be used for investment purposes:
Legg Mason Wood Walker, Inc.
Chandler Asset Management
UBS Financial Services
under the same terms and conditions as are imposed on any and all depositories of the City of
Brooklyn Center.
March 28. 2005
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Dc to U Mayor
ATTEST: City Clerk
The motion for the adoption of the foregoing resolution was duly seconded by member
Kay Tasman
and upon vote being taken thereon, the following voted in favor thereof:
Myrna Kragness, Kathleen Carmody, Kay Lasman, and Diane Niesen;
and the following voted against the same: none;
whereupon said resolution was declared duly passed and adopted.