HomeMy WebLinkAboutResolution 74-55CITY OF COLUMBIA HEIGHTS
ADMINISTRATIVE OFFICES
EQUAL OPPORTUNITY EMPLOYER
· COLUMBIA HEIGHTS, MINNESOTA 55421
RESOLUTION #74-55
AUTHORIZING TRANSFER OF FUNDS FOR INCREASING INTEREST
RETURNS
BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF COLUMBIA
HEIGHTS, that Twin City Federal Savings and Loan Association (TCF)
be, and it is hereby authorized and directed, as the agent of the
City of Columbia Heights, to transfer funds pursuant to telephone
instructions given in the manner described below either (t)
to the City of Columbia Heights' savings account at TCF from the City's
checking acount No. lO0 0033 at Marquette State Bank of Columbia
Heights, the address of which is Columbia Heights, Minnesota 55421, or
(2) from said savings account to said checking account.
BE IT FURTHER RESOLVED, that TCF be, and it hereby is, authorized
and directed to withdraw funds from said savings account upon telephone
instructions given in the manner described below and make payment
thereof by check payable to the City of Columbia Heights mailed to
the address shown on TCF's records for said savings account.
BE IT FURTHER RESOLVED, that amounts deposited in said savings account,
are not withdrawable until collected.
FURTHER RESOLVED, that TCF be, and it hereby is, authorized to act
pursuant to this authorization upon telephone instruction purporting
to be from Mayor Bruce G. Nawrocki, City Manager Malcolm O. Watson,
or City Clerk-Treasurer John E. Schedler, in which the caller identifies
the Personal Identification Number assigned to said savings account,
and the City of Columbia Heights, its successors and assigns shall
hold TCF harmless from any loss or expense (including reasonable
attorney's fees) arising out of its so acting.
FURTHER RESOLVED, that the City of Columbia Heights represents to TCF
that said savings account and said checking account have identical
ownership and withdrawal rights, tha't the City shall bear sole
responsibility for maintaining such identity, and that TCF shall in no
event be responsible for any withdrawals made pursuant to ownership or
withdrawal rights of said savings account and said checking account
or for any funds transferred to said checking account after the transfer.
FURTHER RESOLVED, that this authorization will remain in effect until
receipt by TCF of written notice from the City of termination of this
authorization by this board.
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Passed this 25th day of November, 1974
Offered by: Land
Seconded by: Norberg
Roll Catl: All Ayes
B~ce G Na~Trocki, Mayor
~ to the Council Pro~tern
I hereby certify that the above is a true and correct copy of
a resolution passed by the City Council of the City of Columbia
Heights on November 25, 1974
seal
City Clerk