Loading...
92-001 - 01-07 Designate Depositories for City FundsResolution 92-1 January 7, 1992 Member Thompson 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: Marquette Bank Golden Valley Norwest Bank Dain Bosworth Franklin U. S. Government Securities Fund Juran & Moody Inc. Piper, Jaffray & Hopwood Inc. Shearson Lehman Hutton BE IT FURTHER RESOLVED that the following signatories 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 Treasurer or Assistant Finance Director Each check shall require (two) 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, Assistant Finance Director. 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 92-1 - Continued ATTEST: '�J,Pfx. �=W" irley JtMeon, City Clerk January 7, 1992 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: Bakken, Johnson, Russell, 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 his signature attested by the City Clerk.