04-01 - 01-06 - Design Depositories for City Funds Resolution 04-1 January 6, 2004
Member Grayson 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:
Wells Fargo - Golden Valley
RBC-Dain Rauscher
Piper Jaffray Companies
Minnesota Municipal Money Market Fund
Central Bank
BNC National Bank
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.
Money market transfers will be allowed by Finance Director and Assistant
Finance Director
3. Imprest Fund Checking: (Park and Recreation, City Activity Account, Motor
Vehicle DNR transactions 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.
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.
Resolution 04-1 - Continued January 6, 2004
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.
c
Linda R. Loomis, Mayor
ATTEST:
f
Donald G. Taylor, er
The motion or the adoption of the foregoing resolution was seconded by Member Shaffer
and upon a vote being taken thereon, the following voted in favor thereof: Freiberg,
Grayson, Loomis, Shaffer and Tremere; 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.