HomeMy WebLinkAboutResolution 83-03 RESOLUTION 83-03
DESIGNATING DEPOSITORIES FOR FUNDS OF
THE CITY OF COLUMBIA HEIGHTS
BE IT RESOLVED, that the Marquette State Bank of Columbia Heights and the
Northeast State Bank of Columbia Heights be hereby designated as the
depositories for moneys of the City of Columbia Heights, and the Treasurer
of this City is hereby directed to deposit moneys of this City in said
Banks, and the Marquette State Bank of Columbia Heights and the Northeast
State Bank of Columbia Heights are hereby authorized and directed to honor
and pay any checks or orders, when signed by the Mayor, City Manager and
Treasurer for the withdrawal or transfer of funds on deposit in said banks
in whatever form.
AND, that the following financial institutes be designated as official
depositories of the City of Columbia Heights for investment purposes:
Marquette State Bank of Columbia Heights, Fidelity State Bank, Northeast
State Bank of Columbia Heights, Twin City Federal, Third Northwestern
National Bank, First Federal, First Security State Bank of St. Paul, American
National Bank of St. Paul, First National Bank of St. Paul, Merrill Lynch
Pierce Fenner & Smith,
AND, that the Treasurer shal~ have the authority to wire transfer funds from
one official Depository to another fmr the purpose of investing city funds.
BE IT FURTHER RESOLVED that in case such deposit shall at any time exceed
the sum for which its deposits are insured under the acts of Congress of the
United States relating to insurance of bank deposits, said depository shal~
immediately furnish bond or securities in lieu of bond. The following are
hereby designated as the places for safekeeping of all securities in lieu of
such bond, The Marquette National Bank, the Federal Reserve Bank, Northwestern
National Bank, First National Bank of St. Paul, Manufacturers Hanover Bank,
Midland National Bank.
Passed this 14 day of February, 1983.
Offered by: Norberg
Seconded by: Petkoff
Roll Call: Ali ayes
retary
Bruc~
Nawrocki, Mayor