Agenda - Council - 01/14/1986 - Laserfiche WebLink

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Councilmember introduced the following resolution and moved fo adoption: I R~S(~3TION t86- RESC~UTION DESIGNATING FINANCIAL INSTITOTIONS AS OFFICIAL DEPOSITORIES OF CITY WHERFA~, the City of Ramsey must designate certain financial institu- tions as official depositories of City funds in accordance with M.S. Chapter 427.01 and 427.02. I I I I I N~W ~EREFORE, BE IT RESC~VED BY ~E CITY OOONCIL OF T~E CITY OF RAMSEY, ANOKA COUNTY, S~I%TE OF MINNESO~I~, as follows: 1) That the City of Ramsey hereby appoints the Northern Bank of Anoka as the official depository of its ~hecking account and savings account. 2) That the City of Ramsey hereby appoints the following financial institutions as depositories of City funds: a) First National Bank of Anoka b) First National Bank of M/nneapolis c) Norwest Bank of Minneapolis d) Twin City Federal Savings and Loan e) Minnesota Federal Savings and Loan f) Dain Bosworth, Inc. g) American National Bank I I I 3) That the City of Ramsey will place its investments with the highest bid received from any of the above designated depository institutions. 4) ~hat a copy of this resolution be furnished to the City's Finance Officer for the records. ~he motion for the adoption of the foregoing resolution was duly seconded by Councilmember and upon vote being taken thereon, the following voted in favor thereof: I I I and the following voted against the same: whereupon said resolution was declared duly passed and adopted by the Ramsey City Council this the 14th day of January, 1986.