89-058 - 10-03 Amend Resolution 89-1 Depositories for City FundsResolution 89-58
October 3, 1989
Member Stockman introduced the following resolution and moved its adoption:
RESOLUTION AMENDING RESOLUTION 89-1,
DESIGNATING DEPOSITORIES FOR CITY FUNDS
WHEREAS, Resolution 89-1, Resolution Designating Depositories for City
Funds, was adopted January 3, 1989; and
WHEREAS, staff is recommending that Shearson Lehman Hutton be added to the
list of approved depositories to allow further diversity of investment holdings;
and
WHEREAS, the auditors have reviewed the investment insurance protection
provided by Shearson Lehman Hutton and reported it is more than adequate for the
city's needs.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Golden
Valley, that the following depository be added: Shearson Lehman Hutton.
ATTEST:
Mary E. ArVobrson, Mayor
The motion for the adoption of the foregoing resolution was seconded by Member
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 declared duly
passed and adopted, signed by the Mayor and her signature attested by the Deputy
City Clerk.