15-02 - 01-13 - Designating Depositories for HRA funds Resolution 15-2 January 13, 2015
Commissioner Fonnest introduced the following and moved its adoption:
RESOLUTION DESIGNATING DEPOSITORIES FOR HRA FUNDS
BE IT RESOLVED by the Housing and Redevelopment Authority (HRA) of Golden
Valley that the following are named as depositories for HRA funds, subject to the furnishing
of collateral for funds on deposit as provided in the Laws of the State of Minnesota:
BNC National Bank
Central Bank
Piper Jaffray Companies
RBC-Dain Rauscher
US Bank
Wells Fargo
4M Fund
BE IT FURTHER RESOLVED that the following signatories or alternates are
authorized to be signatories on checks drawn on funds deposited to the general checking
account: the HRA Chair or Vice Chair and the HRA Director or Assistant Director; and that
each check shall require two signatures.
BE IT FURTHER RESOLVED that the following shall be authorized to make
investments of HRA funds and shall be authorized to deposit the principal of said
investments in the above named depositories as necessary and beneficial to the City: HRA
Director, City Treasurer, City's Accounting Coordinator.
The HRA Director and City Clerk are authorized and directed to furnish each of the
depositories with certified capies of this resolution along with such signature documentation
as is required by the depository and the authorizations set forth under 1 and 2 above.
�,� . e �L�� l�
Steven T Schmidgall, hair
ATTEST:
Tho as D. Burt, E ec tive Director
The motion for the adoption of the foregoing resolution was seconded by Commissioner
Harris and upon a vote being taken thereon, the following voted in favor thereof: Clausen,
Fonnest, Harris and Schmidgall; and the following abstained: Snope; and the following
voted against the same: none, whereupon said resolution was declared duly passed and
adopted, signed by the Chair and his signature attested by the Executive Director.