15-55 - 06-16 - Amending Resolution 15-01 Designating Depository Resolution 15-55 June 16, 2015
Member Fonnest introduced the following resolution and moved its adoption:
RESOLUTION AMENDING RESOLUTION 15-01
DESIGNATING DEPOSITORY FOR CITY FUNDS
WHEREAS, Resolution 15-01 was adopted on January 6, 2015; and
WHEREAS, Sterne Agee & Leach was acquired by Stifel Nicolaus & Company Inc.;
and
WHEREAS, Minnesota Statutes set procedures and require the City Council to
designate depositories for City funds; and
WHEREAS, Wells Fargo Bank Minnesota, N.A., wires transfer funds institutions for
investments purchased by the City
WHEREAS, Stifel Nicolaus & Company Inc. will be added to the list of institutions.
Shepa d M. Harris, Mayor
ATTEST:
Kristine A. Luedke, City Clerk
The motion for the adoption of the foregoing resolution was seconded by Member Clausen
and upon a vote being taken thereon, the following voted in favor thereof: Harris, Clausen,
Snope, Fonnest and Schmidgall 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.