HomeMy WebLinkAbout1986-003 HRARadoption: Member Rich Theis introduced the following resolution and moved its
HRA RESOLUTION NO. 86-03
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 Minnesota-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.
~a ~A
January 13, 1986
Date
I
The motion for the adoption of the foregoing resolution was duly seconded
by member Gene Lhotka , 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.