088-001 - 01-05 Designating Depositories for City Funds Resolution 88-1 January 5, 1988
P�ember Johnson 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 the 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
P1a rq uette Bank P1i nneapol i s
First Bank Ply mouth
Shelard National Bank
Dain Bosworth
Franklin U. S. Gove rnment Securities Fund
Juran & Moody Inc.
Piper, Jaffray & Hopwood Inc.
BE IT FURTHER RESOLVED that the following signatories or alternates are
authorized to be signatories on checks drawn on funds deposited:
l . General Checking and Payroll Checking:
Mayor or �layor Pro Tem
a nd
Treasurer or Accountant
Each check shall require two (2) signatures.
2. Internal Deposit Funds:
Signatories shall be as designated by the City ��anager 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 P�anager 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 authoriied to deposit the principal of
said investments in the above named depositories as necessary and beneficial to
the City: City Manager, City Treasurer, Accountant.
The City Planager and City Clerk are authorized and di rected 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 88-1 - Continued January 5, 1988
��'.:,� ��(.G���� �/
Mary E. nderson, Mayor
ATTEST:
dy PJaI y, Deputy ity Clerk
The r�otion for the adoption of the foregoing resolution was seconded by P�ember
Thompson and upon a vote being taken thereon, the following voted in favor
thereof: Anderson, Bakken, Johnson, Stockman and Thompson; and the following
voted against the same: none, whereupon said resolution was decla red duly
passed and adopted, signed by the Playor and her signature attested by the Deputy
City Clerk.