HomeMy WebLinkAboutResolution 81-74RESOLUTION 81-74
BE IT RESOLVED that the City of Columbia Heights be, and it hereby is,
authorized and empowered to open and maintain an account with Merrill
Lynch Pierce Fenner & Smith, Inc., and its successors, by merger, con-
solidation or otherwise, and assigns, hereinafter called the brokers,
for the purchase and sale of governmental securities, including purchase
agreements based on such securities, on exchanges of which the brokers
are members or otherwise, and that any of the officers hereinafter
named be, and they hereby are, authorized to give written or verbal
instructions by telephone, or telegraph, or otherwise, to the brokers
to buy or sell governmental securities, either for immediate or future
delivery and, if they deem proper to secure payment therefor with
property of this corporation; and they shall at all times have authority
in every way to bind and obligate this corporation roi' the carrying out
of any contract, arrangement or transaction which shall, for or on behalf
of this corporation, be entered into or made with or through the
brokers; and that the brokers are authorized to receive from this corpora-
tion, checks and drafts drawn upon the funds of this corporation by any
officer or employee of this corporation, and to apply the same to the
credit of this corporation or to its account with said brokers and said
brokers are authorized to receive from said officers or from any other
officer or employee of this corporation, governmental securities for
the account of this corporation with said brokers; said brokers are
further authorized to accept instructions from any officer herein named
as to the delivery of governmental securities from the account of this
corporation and at their direction to cause certificates of governmental
securities held in said account to be transferred to the name of any
officer hereinafter named or of this corporation in the discretion of
said officer; and delivery to any such officer of such governmental
securities, issued as directed by hlm, shall be deemed delivery to this
corporation; and any such officer shall have the fullest authority at
all times with reference to any transaction deemed by him to be proper
to make or enter into for or on behalf of this corporation with the
brokers or others. All confirmations, notices, and demands upon this
corporation may be delivered by the brokers verbally or in writing,
or by telegraph, or by telephone to any such officer and he is auth-
orized to empower any person, or person, that he deems proper, at any
time, or times, to do any and all things that he is hereinbefore
authorized to do. That this resolution shall be and remain in full force
and effect until written notice of the revocation hereof shall be deli-
vered to the brokers. The officers herein referred to are named as
follows, to-wit:
William Elrite, Acting Finance Director
Robert S. Bocwinski, City Manager
Passed this 28th day of December, 1981
Offered by: Norberg
Seconded by: Heintz
Roll Call: All ayes
reta~y
Bruce G. Nawrocki, Mayor