Loading...
HomeMy WebLinkAboutResolution 89-05RESOLUTION 89- 05 DESIGNATING DEPOSITORIES FOR FUNDS OF THE CITY OF COLUMBIA HEIGHTS BE IT RESOLVED, that the Marquette State Bank of Columbia Heights and the Northeast Stat~ Bank of Columbia Heights he hereby designated as the depositories for monies of the City of Columbia Heights, and the Treasurer of this Ofty is hereby directed to deposit monies of this City in said banks, and the Marquette State Bank of Columbia Heights and the Northeast State Bank of Columbia Heights are hereby author/zed 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, Northeast State Bank of Columbia Heights, Twin City Federal, Norwest Bank, First Minnesota, American National Bank of St. Paul, First National Bank of St. Paul, Merrill Lynch Government Securities, Inc., Prudential-Bache Securities, Minnesota Municipal Money Market Fund, Piper Jaffray & Hopwood, Inc., Juran & Moody, Inc. AND, that the Treasurer shall have the authority to wire transfer funds from one official 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 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, Norwest Bank, First National Bank of St. Paul, Manufacturers Hanover Bank, Midland National Bank, American National Bank of St. Paul, Piper Jaffray & Hopwood, Inc., Juran & Moody, Inc. Passed this 13th day of February 1989 Offered by: Peterson Seconded by: Petkoff Roll Call: Ali ayes -Anne Student, Counc~ Secretary Mayor Dale Vz. Hadtrath