HomeMy WebLinkAboutResolution 79-56 RESOLUTION 79-56
DESIGNATING DEPOSITORIES FOR FUNDS
OF THE CITY OF COLUMBIA HEIGHTS FOR THE YEAR 1980
The City Council of the'City of Columbia Heights, HEREBY RESOLVES, that
the Marquette State Bank of Columbia Heights, the Fidelity Bank and Trust
Co., the Third Northwestern National Bank, and the Northeast State Bank be
hereby designated as the depositories for moneys of the City of Columbia
Heights for a period of one year beginning the first day of January, 1980
and the Treasurer of this City is hereby directed to deposit moneys of
this City in said Banks, and the Marquette State Bank of Columbia Heights,
the Fidelity Bank and Trust Co., the Third Northwestern National Bank, and
the Northeast State Bank are 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 banks in whatever form.
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 bonder securities in lieu of bond according to
the law, and the Marquette National Bank for the Marquette State Bank of
Columbia Heights, the Federal Reserve Bank for Fidelity State Bank, the
Third Northwestern National Bank, and Northwestern National Bank for the
Northeast State Bank are hereby designated as the places for the
safekeeping of all securities furnished in lieu of such bond.
Passed this 17th day of December, 1979
Offered by: Hentges
Seconded by: Heintz
Roll Call: All Ayes
Bruce G. Nawrocki, Mayor