HomeMy WebLinkAbout2002-045 CCRMember Bob Peppe introduced the following resolution and moved its
adoption:
RESOLUTION NO. 2002-45
RESOLUTION DESIGNATING DEPOSITORIES OF CITY FUNDS
WHEREAS, Section 7.01 of the City Charter provides the City Council with
authority over City funds that includes the safekeeping and disbursement of public monies.
NOW THEREFOR BE IT RESOLVED by the City Council of the City of Brooklyn
Center, Minnesota as follows:
1. That the following named bank is hereby designated as an additional depository to
be used for investment purposes:
Bremer Banks, N.A.
1
The City Treasurer is hereby authorized to deposit funds in accounts guaranteed by the
Federal Deposit Insurance Corporation (FDIC), the Federal Savings and Loan Insurance
Corporation (FSLIC) or the Securities Insurance Protection Corporation (SIPC). Funds
deposited with designated depositories in excess of the insured amounts provided by the
insurance of individual institutions or companies shall not exceed the ninety percent (90%) of
the collateral pledged by the depository to the City or other such insurance provided by the
depository and approved by the City.
March 25, 2002
Date
CIA4
d ' Mayer
ATTEST:
City Clerk
The motion for the adoption of the foregoing resolution was duly seconded by member
Kay Lasman
and upon vote being taken thereon, the following voted in favor thereof.
Myrna Kragness, Kay Lasman, Bob Peppe, and Tim Ricker;
and the, following voted against the same: none;
whereupon said resolution was declared duly passed and adopted.