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HomeMy WebLinkAboutResolution 84-22RESOLUTION NO. 84-22 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 tills City is hereby directed to deposit moneys of this City in said Banks, and the Marquette State Bank of Col- umbia Heights and the Northeast State Bank of Columbia Heights are hereby authorized and directed to honor ~nd pay any checks or orders, when signed by the Mayor, City Manager and Treasurer for the withdrawal or transfe~ of funds on deposit in said banks in whatever form. AND, that the fo]lowing 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 Nationa] Bank of St. Paul; and, Merrill, Lynch, Pierce, Fenner and Smith, Inc.. AND, that the Treasurer shall have the authority to wire transfer funds from one depository to another for 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 shall immediately furnish bond or securiti, es 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; and, Midland National Bank. Passed this 9th day of April, 1984. Offered by: Carlson Seconded by: Peterson Roll Call: All ayes 0 ~//Anne Student, Counc~'i'T'-Secretary Bruce-W~,~Nawro~ki, Mayor