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HomeMy WebLinkAboutResolution 77-68CITY OF CIT~Y OF COLUMBIA HEIGHTS 590 40th Ave. N. E. Col~lsi~H~i~h st~/~N-55421.--- - (612) 788 ~ 922:1 "SERVICE iS OUR BUSINESS" RESOLUTION 77-68 DESIGNATING A DEPOSITORY FOR CERTAIN FUNDS OF THE CITY OF COLUMBIA HEIGHTS The City Council of the City of Columbia Heights, HEREBY RESOLVES, that the First Brookdale State Bank of Brooklyn Center, Minnesota, be hereby designated as a depository for monies of the City of Columbia Heights for a period of not more than three years and one month begin- ning October 25, 1977, for money used as cash bid security of Dick's Sanitary Service, Inc., and the Treasurer of this City is hereby dir- ected to deposit monies of the City of Columbia Heights in said bank, and the First Brookdale 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 tT 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 bonder securities in lieu of bond according to the law, and the Marquette National Bank for the Marquette State Bank of Columbia Heights, and the Federal Reserve Bank for Fidelity State Bank, and the Third Northwestern National Bank are hereby designated as the places for the safekeeping of all securities furnished in lieu of such bond. Passed this 24th day of October, 1977. Offered by: Seconded by: Roll Call: Secretary Norberg Logacz Logacz, Heintz, Norberg, Nawrocki--aye // Hentges--abstain ~~~f Bruce G. Nawrocki, Mayor Bruce G. N'awrocki, Mayor E. "Sebe" Heintz~ Councilmember Walter Logncz, Councilmember GayJe R. Norberg, Councilmember Kennth E. Hentges, Councilmernber EQUAL OPPORTUNITY EMPLOYER