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HomeMy WebLinkAbout2005-05 RESOLUTION NO. 2005-05 RESOLUTION DESIGNATING DEPOSITORY FOR THE COLUMBIA HEIGHTS HOUSING AND REDEVELOPMENT AUTHORITY (HRA) IT IS HEREBY RESOLVED, that Northeast bank, is hereby designated as a depository of the funds of this corporation. IT IS FURTHER RESOLVED, that checks, drafts, or other withdrawal orders issued against the funds of this corporation on deposit with said bank shall be signed by the following: HRA Executive Director HRA Deputy Executive Director (if Executive Director isn't available) Management Company CEO Management Company CFO And that said bank is hereby fully authorized to pay and charge to the account of this corporation any checks, drafts, or other withdrawal orders. BE IT FURTHER RESOLVED, that the Northeast Bank, is designated depository of the Corporation and it is hereby requested, authorized and directed to honor checks, drafts or other orders for the payment of money drawn in this corporation's name, including those drawn to the individual order of any person or person whose name or names appear thereon as signer or signers thereof, when bearing or purporting to bear the facsimile signatures of the following: HRA Executive Director HRA Deputy Executive Director Management Company CEO Management Company CFO And that Northeast Bank shall be entitled to honor and to charge this corporation for all such checks, drafts or other orders, regardless of by whom or by what means the facsimile signature or signatures thereon may have been affixed thereto, if such facsimile signature resembles the facsimile specimens duly certified to or filed with the Bank by the City Clerk or other officer of this Corporation. BE IT FURTHER RESOLVED, that any and all resolutions heretofore adopted by the HRA Board of the Corporation and certified to as governing the operation of this corporation's account(s) with it, be and are hereby continued in full force and effect, except as the same may be supplemented or modified by the foregoing part of this resolution. BE IT FURTHER RESOLVED, that all transactions, if any relating to deposits, withdrawals, re- discounts and borrowings by or on behalf of this Corporation with said bank prior to the adoption of this resolution be, and the same hereby are, in all things ratified, approved and confirmed. BE IT FURTHER RESOLVED, that any bank or savings and loan located in the State of Minnesota may be used as depositories for investment purposes so long as the investments comply with authorized investments as set forth in Minnesota Statutes. BE IT FURTHER RESOLVED, that any brokerage firm located in the State of Minnesota may be used as a depository for investment purposes so long as the investments comply with the authorized investments as set forth in Minnesota Statutes. Passed this d:5 day of October, 2005 Offered by: Seconded by: Roll Call: Bruce Nawrocki- Chair Ch~n~