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HomeMy WebLinkAboutResolution 80-82RESOLUTION 80-82 DESIGNATING DEPOSITORIES FOR FUNDS OF THE CITY OF COLUMBIA HEIGHTS FOR THE YEAR OF 1981 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 Northeast State Bank, the First Security State Bank of St. Paul, Home Savings, Third Northwestern National Bank and Twin City Federal 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, 1981 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 Northeast State Bank, the First Security State Bank of St. Paul, Home Savings, the Third Northwestern National Bank and Twin City Federal 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 Stated 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 t~e Marquette State Bank of Columbia Heights, the Federal Reserve Bank for Fidelity State Bank, North- western National Bank for the Northeast State Bank, Midland National Bank for Twin City Federal, Federal Reserve Bank for Third Northwestern National Bank, Northwestern National Bank for Home Savings, and First Bank of St. Paul for the First Security State Bank of St. Paul are hereby designated as the places for the safekeeping of all securities furnished in lieu of such bond. Passed this 29th day of December, 1980. Offered by: Heintz Seconded by: Norberg Roll Call: All ayes A~ne Student,~Council Secretary Bruce G. Nawrocki, Mayor