HomeMy WebLinkAboutResolution 79-04CiTY
OF
CITY OF COLUMBIA HEIGHTS
590 40th AveJ N.E. -
(612) 788~9221 _ -
RESOLUTION #79 - 4
AUTHORIZING TRANSFER OF FUNDS FOR INCREASING INTEREST
RETURNS
BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF COLUMIBA
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
instruction given in the manner described below either (1) to the
City of Columbia Heights' savings account at TCF from the City's
checking account No. 539 0034 at Northeast State Bank - Columbia
Heights Office, the address of which is Columbia Heights, Minnesota
55421, or (2) from said savings account to said checking account.
BE tT 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 FURHTER 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 Robert S. Bocwinski,
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 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 TCF
that said saving§ account and said checking account have identical
ownership and withdrawal rights, that 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 wilt remain in effect until
receipt by TCF of written notice from the City of Termination of this
authorization by this board.
Bruce G. Nawrocki, Mayor
E. "Sebe" Heintz, Councilmember Walter Logacz, Councilmember
Gayle R. Norberg, Councilmember Kenneth E. Hentges, Councitmember
EQUAL OPPORTUNITY EMPLOYER
-2-
Passed this 8th day of January, 1979
Offered by: Logacz
Seconded by: Hentges
Roll Call: All Ayes
Secretary to the Council
Bruce G. Nawrocki, Mayor