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HomeMy WebLinkAbout1985-001 HRARMember Rich Theis introduced the following resolution and moved its adoption: RESOLUTION NO. 85-01 RESOLUTION DESIGNATING DEPOSITORIES OF HRA FUNDS BE IT RESOLVED by the Housing and Redevelopment Authority of Brooklyn Center, Minnesota (HRA) that the First Brookdale State Bank be and is hereby designated as the depository for the funds of the Housing and Redevelopment Authority of Brooklyn Center, Minnesota. BE IT FURTHER 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 Federal Savings & Loan Association Midwest Federal Savings & Loan Association Twin City Federal Savings & Loan Association The Executive Director is authorized to deposit HRA 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 HRA, and approved by the HRA, by said depository. BE IT FURTHER RESOLVED that the persons authorized by the HRA to act for the HRA in any of its business with the depository are any persons holding office from time to time as Executive Director and City Treasurer. All checks drawn upon an account of the HRA shall be signed by both of the above designated persons. BE IT FURTHER RESOLVED that the Executive Director is Gerald G. Splinter and the City Treasurer is Paul W. Holmlund. January 14, 1985 Date Mayof° r ATTEST: e- rk 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.