94-01 - 01-04 Designate Depositories for City FundsResolution 94-1
January 4, 1994
Member 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:
Marquette Bank Golden Valley
Dain Bosworth
Franklin U. S. Government Securities Fund
Juran & Moody Inc.
Piper, Jaffray & Hopwood Inc.
Shearson Lehman Hutton
Voyageur U.S. Government Securities Fund
AIM Adjustable Rate Government Fund
MFS U.S. Government Securities Fund
Norwest Bank Minnesota N.A.
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:
(Brookview Golf Course Checking, Motor Vehicle Registration Fund
Checking and Money Market Savings Depository)
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 and Brookview Golf
Activity):
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 94-1 - Continued
Blair Tremere, Mayor
ATTEST:
i
Shirley J4 Mls6n, City Clerk
January 4, 1994
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: Johnson, Micks, Russell, Thompson, Tremere; 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.