HomeMy WebLinkAboutResolution 79-03CiTY
OF
CITY OF COLUMBIA HEIGHTS
590 40th Ave. N. E:i
(612) 788-9221
SERVICE IS OUR
RESOLUTION #79 - 3
AUTHORIZING TRANSFER OF FUNDS FOR INCREASING INTEREST
RETURNS
BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF COLUHBIA
HEIGHTS, that Home Federal Savings and Loan Association of Hinneapolis
(HOHE) be, and it is hereby authorized and directed, as t:heagent of the
City of Columbia Heights, to transfer funds pursuant to telephone
instructions given in the manner described below either (1) to the
City of Columbia Heights savings account at HOHE from the City's checking
account No. 539 0034 at Northeast State Bank - Columbia Heights Office,
the address of which is Columbia Heights, Hinnesota 55421, or (2)
from said savings account to said checking account.
BE IT FURTHER RESOLVED, that HOME 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 HOME'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 HOME be, and it hereby is, authorized to act
pursuant to this authorization upon telephone instruction purporting
to be from Hayor Bruce G. Nawrocki, City Manager Robert S. Bocwinski,
or City Clerk-Treasurer John E. $chedler, 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 HOME
harmless form 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
HOME that said savings account and said checking account have identical
ownership and withdrawal rights, that the City shall bear sole responsibility
for maintaining such identity, and that HOME 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 after the transfer.
FURTHER RESOLVED, that this authorization will remain in effect until
receipt by HOME of written notice f~rom the City of termination of
this authorization by this City Council.
Bruce G. Nawrocki, Mayor
E. "Sebe" Heintz~Councilmember Walter Logacz, Councilmember
Gayle R. Norberg, Councilmember Kenneth E. Hentges, Councilmember
EQUAL OPPORTUNITY EMPLOYER
-2-
Passed this 8th day of January, t979
Offered by: Logacz
Seconded by: Hentges
Roll Call: All Ayes
Secretary to the Council
Bruc G. Nawrocki, Mayor