84-001 - 01-03 - Designating Depositories for City FundsResolution 84-1
January 3, 1984
Member Stockman introduced the following resolution and moved its adoption:
RESOLUTION DESIGNATING DEPOSITORIES FOR CITY FUNDS
BE IT RESOLVED by the City Council of the City of Golden Valley that the
following are named as depositories for City Funds subject to furnishing of
collateral for funds on deposit as provided in the Laws of the State of Minnesota:
Golden Valley State Bank
Norwest Bank - Calhoun Isles
Fidelity Bank and Trust Company
First Bank Plymouth
Shelard National Bank
Trust for Short -Term U.S. Securities
BE IT FURTHER RESOLVED that the following signatures or alternates are
authorized to be signatories on checks drawn on funds deposited:
1. General Checking and Payroll Checking:
Mayor or Mayor Pro Tem
and
City Manager or Acting City Manager
and
Treasurer or Deputy Treasurer
The City Council recognizes that, at the time of this resolution, a
vacancy exists in the office of City Manager and to provide an alternate
signatory the Deputy City Clerk is hereby authorized to sign in lieu
of the Acting City Manager until such vacancy is filled. Each check
shall require three (3) signatures.
2. Internal Deposit Funds:
Signatories shall be as designated by the City Manager who shall notify
the bank at the time of authorization or change of authorization and
each check shall require two (2) signatures.
3. Imprest Fund Checking (Park and Recreation):
Signatories shall be as designated by the City Manager who shall notify
the bank at the time of authorization or change of authorization and
each check shall require one (1) signature.
BE IT FURTHER RESOLVED that the following shall be authorized to make
investments of City Funds and shall be authorized to deposit the principal of
said investments in the above named depositories as necessary and beneficial to
the City: City Manager, City Treasurer or Deputy Treasurer.
The City Manager and City Clerk are authorized and directed to furnish each of
the depositories with certified copies of this resolution along with such
signature documentation as is required by the depository and the authorizations
set forth under 2 and 3 above.
Resolution 84-1 - Continued
ATTEST:
Wa&V
Na Deputo City Clerk
January 3, 1984
ary E. t
nderson, Mayor
The motion for the adoption of the foregoing resolution was seconded by Member
Johnson and upon a vote being taken thereon, the following voted in favor
thereof: Anderson, Johnson, Stockman and Thompson, and the following voted
against the same: none, whereupon said resolution was declared duly passed and
adopted, signed by the Mayor and her signature attested by the Deputy City
Clerk.