98-001 - 01-06 Resolution Designating Depositories for City FundsResolution 98-1
January 6, 1998
Member LeSuer 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
Juran & Moody Inc.
U.S. Bancorp/Piper, Jaffray & Hopwood Inc.
Smith Barney
A.I.M. 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 or authorization and each check
shall require one (1) signature.
Resolution 98-1 - Continued January 6, 1998
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.
40 110,.//_//1��_i
nderson,•
ATTEST:
The motion for the adoption of the foregoing resolution was seconded by Member Bakken
and upon a vote being taken thereon, the following voted in favor thereof: Anderson,
Bakken, Johnson, LeSuer, and Micks; 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 City Clerk.