HomeMy WebLinkAbout1988-001 HRARMember Celia Scott introduced the following
resolution and moved its adoption:
HRA RESOLUTION NO. 88-01
RESOLUTION DESIGNATING DEPOSITORIES OF HRA FUNDS
BE IT RESOLVED by the Housing and Redevelopment
Authority (HRA) of Brooklyn Center, Minnesota, 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 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
1
Norwest Bank Minneapolis
First National Bank of St.
American National Bank of
First Western Bank
Camden Norwest Bank
First Minnesota Savings &
Midwest Federal Savings &
Twin City Federal Savings
Paul
St. Paul
Loan Association
Loan Association
& 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. H mlund.
January 11, 1988
Date CG
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 4figainst the same: none,
whereupon said resolution was declared duly passed and adopted.