HomeMy WebLinkAboutResolution 57-119RESOLUTION
THE CITY COUNCIL OF THE CITY OF COLU~IA HEIGHTS HEREBY RESOLVES that the
Fidelity State Bank
be hereby designa~em as a ~eposmtory for
moneys of the City of Columbia Heights for a period of one year beginning the 1st
day of January, 1958, and the Treasurer of this City is hereby directed to deposit
moneys of this City in said bank and the Fidelity State Bank is hereby
authorized and directed to honor and pay any checks or orders, when signed by the
City Treasurer, for the withdrawal or transfer of funds on deposit in said Bank in
whatever form.
BE IT FURTHER RESOLVED~ That in case such deposits shall at any time exceed
Ten Thousand ($10,000.00) Dollars, said depository shall immediately furnish bond
or securities in lieu of bond according to law, and the Federal
Reserve Bank is hereby designated as a place for the safe-keeping
of all securities furnished in lieu of such bond.
Passed this 23rd day of December, 1957.
Offered by: Chies
Seconded by: King
Roll Call:
Ayes: AI~
Nays:
Secretary to the Council