HomeMy WebLinkAbout2008-02
RESOLUTION NO. 2008-02
RESOLUTION DESIGNATING DEPOSITORY FOR THE COLUMBIA HEIGHTS
HOUSING AND REDEVELOPMENT AUTHORITY (HRA)
WHEREAS, the City of Columbia Heights Housing and Redevelopment Authority
(herein referred to as the "Corporation") has entered into a Management Contract with
Commonbond Housing (herein referred to as "Management Company"), dated January
23,2008, and
WHEREAS, by Minnesota Statutes the Corporation must establish a depository agency,
and
WHEREAS, the Corporation desires to have as authorized signatures both officers of
the Corporation and the Management Company.
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 at
least two of the following:
HRA Executive Director
Management Company CEO
Management Senior Vice President
Management Director of Administration
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 at least two of the following:
Management Company CEO
Management Company Senior Vice President
Management Company Director of Administration
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
Corporation and certified to as governing the operation of the 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 ;23 day of January, 2008
Offered by: ~ c,-,_"-,,,,,,,~,
Seconded by: 'Z...c\Z-,,-,,,,,b\.- "s".
Roll Call: ~\.\ ~, {Y\ ""\'\ ~N ~~(cR.l~~
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Chair
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Cheryl Ba'Kken- Secretary/CAP