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Interest rates would be better and they would be able to transfer funds. <br />The cost to them and not having the City's checking account were the <br />reasons things were not better up to now. They are a business in <br />Ramsey and felt they deserved some consideration. They contribute <br />to several things in Ramsey - the RYAA and Lions and groups that <br />have had things going on. They are the only bank in Ramsey. Champlin <br />had closed out all business with the bank and are dealing with a bank <br />in their own city. They felt the City should continue to look at <br />other banks for doing investments. They would go into a much stronger <br />investment program with the City and put in more time servicing if <br />they could have the City's checking account. They said they would <br />pick up the cost to change it over. Mayor Gamec told them he would <br />bring the matter up to the City Council. <br /> <br />Councilman Sorteberg said if everything else is equal, that is the way <br />to go. <br /> <br />Mayor Gamec said if all things are equal, he would like to see them <br />have the business. They do a lot in the community. They have given <br />money and prizes to the Jaycees. He said he wanted to look and see <br />how many checks the City had left and to get with First Bank of Anoka <br />and tell them what is being done and why. <br /> <br />Councilman Reimann entered the meeting at 6:30 P.M. <br /> <br />Councilman Reimann said it was okay just as long as the City can get <br />equal what it would get any place else. <br /> <br />Motion by Councilman Mickelson and seconded by Councilman Reimann to <br />adopt Resolution #80-l~ga transferring the City checking account from <br />the First Bank of Anoka to the State Bank of Anoka provided all things <br />are equal. <br /> <br />Motion carried. Voting yes-Mayor Gamec, Councilmen Sorteberg, Reimann <br />and Mimkelson. Voting no=None. Please refer to resolution file for <br />Resolution #80- 144m <br /> <br />City staff thought it would be a lot more efficient and less costly <br />to get both check and savings accounts in one bank. <br /> <br />Mayor Gamec said he told the bank officials that what Jean is doing <br />is per council direction. <br /> <br />Councilman Cox entered the meeting at 6:45 P.M. <br /> <br />Councilman Cox said he thought the City ought to give both banks <br />some consideration. <br /> <br />Jean said the City's investments are mainly with First Minneapolis. <br /> <br />Motion by Councilman Cox and seconded by Councilman Mickelson to <br />adjourn the special council meeting. <br /> <br />Motion carried. Voting yes-Mayor Gamec, Councilmen Sorteberg, Reimann, <br />Mickelson and Cox. Voting no-None. <br /> <br />Special Council <br />October 20, 1980 <br /> Page 2 <br /> <br /> <br />