HomeMy WebLinkAbout2001-018 CCRMember Kay Lasman introduced the following resolution and moved its
adoption:
RESOLUTION NO. 2001-18
RESOLUTION DESIGNATING DEPOSITORIES OF CITY FUNDS
WHEREAS, Section 7.01 of the City Charter provides the City Council with authority over
City funds, including the safekeeping and disbursement of public moneys; and
WHEREAS, Section 7.10 of the City Charter provides that City funds shall be disbursed by
check bearing the actual or facsimile signature of the City Manager and the City Treasurer.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Brooklyn
Center, Minnesota, as follows:
That Marquette Bank Brookdale is hereby designated as the depository of the
funds of the City of Brooklyn Center.
2. That the following named banks and brokers are hereby designated additional
depositories to be used for investment purposes:
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Federal Reserve Bank of Minneapolis
US Bank, National Association
First Trust Bank of St Paul
Wells Fargo Bank Minneapolis
Firstar Bank of Minnesota
Minnesota Municipal Money Market Fund
Dain Bosworth
Salomon Smith Barney
Firstar Bank of Brooklyn Center
Twin City Federal Savings & Loan Association
The City Treasurer is authorized to deposit City funds in accounts 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 by the
depository to the City, and approved by the City.
3. That PNC Merchant Services is hereby designated as the clearinghouse depository
for credit card sales of the Liquor Stores.
RESOLUTION NO. 2001-18
3. That US Bank is hereby designated as the clearinghouse depository for credit
card sales of the Earle Brown Heritage Center.
4. That Chase Merchant Services, LLC is hereby designated as the clearinghouse
depository for credit card sales of the Recreation Department and Golf Course.
5. That the City Council authorizes the City Manager, the City Treasurer, or the
Deputy City Treasurer to act for the City in any of its business with the
depositories. All checks drawn upon an account of the City shall bear the actual
or facsimile signature of the City Manager and the City Treasurer.
6. That the City Manager is Michael J. McCauley and the Acting City Treasurer/
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Deputy City Treasurer is Robert M. Sundberg.
January 22, 2001 0 /1~
Date U Mayor
ATTEST: n )1bA *Mi~tm_
City Clerk
The motion for the adoption of the foregoing resolution was duly seconded by member
Ed Nelson
and upon vote being taken thereon, the following voted in favor thereof:
Myrna Kragness, Kay Lasman, Ed Nelson, and Bob Peppe;
and the following voted against the same: none;
whereupon said resolution was declared duly passed and adopted.