HomeMy WebLinkAbout2024-003 Designating Official Depositories: Northeast Bank and US BankRESOLUTION NO.2024-003
A resolution of the City Council for the City of Columbia Heights, Minnesota, designating official depositories
for the City of Columbia Heights.
Now, therefore, in accordance with all ordinances and regulations of the City of Columbia Heights, the City
Council of the City of Columbia Heights makes the following:
ORDER OF COUNCIL
IT IS HEREBY RESOLVED, that Northeast Bank and U.S. Bank, are hereby designated as depositories 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 banks shall be signed by the following:
Mayor
City Manager
Finance Director
and that said banks are 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 Northeast Bank and U.S. Bank are 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 persons whose name or names appear thereon as signer
or signers thereof, when bearing or purporting to bear the facsimile signatures of the following:
Mayor
City Manager
Finance Director
and that Northeast Bank and U.S. 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 or signatures resemble the facsimile
specimens duly certified to or filed with the Banks by the Finance Director or other officer of his corporation.
BE IT FURTHER RESOLVED, that the Finance Director or their designee shall be authorized to make electronic
funds transfers in lieu of issuing paper checks, subject to the controls required by Minnesota Statute 471.38
and by the City of Columbia Heights' financial policies.
BE IT FURTHER RESOLVED, that any and all resolutions heretofore adopted by the City Council of the City of
Columbia Heights 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.
City of Columbia Heights - Council Resolution 2024-003 Page 2
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 banks 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 designated above as a depository, may be used as a depository for
investment purposes, so long as the investments comply with authorized investments as set forth in
Minnesota Statutes 118A.
BE IT FURTHER RESOLVED, that Bank of New York Mellon DBA Pershing Advisor Solutions LLC is 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 81h day of January, 2024
Offered by: Jacobs
Seconded by: Spriggs
Roll Call: All Ayes
Am "da Marquez Simula, Mayor
Attest:
ra I n, City Clerk/Council Secretary