HomeMy WebLinkAbout2018-113 CCRMember DAn Ryan introduced the following resolution and
moved its adoption:
RESOLUTION NO. 2018-113
RESOLUTION APPROVING WELLS FARGO AS THE CITY'S CUSTODIAN
FOR INVESTMENT SECURITIES
WHEREAS, the City Council Code of Policies Section 2.80 requires that the
City solicit proposals for custodial of investment securities no less frequently than every six
years; and
WHEREAS, proposals were solicited in April 2018 through a Request for
Proposals (RFP) for Custody/Trust Banking Services approved by the City Council on March 12,
2018; and
WHEREAS, the City received two proposals from professional firms providing
such services; and
WHEREAS, a Committee in accordance with the Code of Policies Section 2.80
has reviewed the proposals, and recommended award of the contract to Wells Fargo; and
WHEREAS the City Manager recommends to the City Council the award of the
contract to Wells Fargo.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Brooklyn Center that Wells Fargo be awarded the contract for the insurance agent of record.
May 28, 2018
Date Mayor
ATTEST:
City Clerk
The motion for the adoption of the foregoing resolution was duly seconded by member
Kris Lawrence-Anderson
and upon vote being taken thereon, the following voted in favor thereof:
Tim Willson, Marquita Butler, April Grabes, Kris Lawrence-Anderson, Dan Ryan
and the following voted against the same:
whereupon said resolution was declared duly passed and adopted.