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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 con~ideration. 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. Ch~mplln <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 Camec told them he would <br />bring the matter up to the City Council. <br /> Councilman Sozteberg said if everything else is eqUal, that is the way <br /> to go. <br /> Mayor Gamec said if all things are equal, he would 1Lke to see them <br /> have t.he business. They do a lot in the community. They have given <br /> money and prizes to the Jaycees. Ne 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 /> Councilman Reimann entered the meeting at 6:30 P.M. <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 /> Motion by Councilman Mickelson and seconded by Councilman Reimann to <br /> adopt Resolution #80-~ transferring the City checking account from <br /> the First Bank of Anoka to the State Bank of Anoka provided all things <br /> a~re equ~l. <br /> Motion carried. Voting yes-Mayor Gamec, Councilmen Sorteberg, Reimann <br /> and Mickelson. Voting novNone. Please refer to resolution file for <br /> Resolution #80- 144a~ <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 /> Mayor Camec 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 /> Councilman Cox said he thought the City ought to give both banks <br /> some consideration. <br /> Jean said the City's investments are mainly with First Minneapolis. <br /> Motion by Councilman Cox and seconded by Councilman Mickelson to <br /> adjot~rn the special council meeting. <br /> Motion caz~ied. Voting yes-Mayor Camec, Councilmen Sorteberg, Relmann, <br /> Mickelson and Cox. Voting no-None. <br /> <br />Special Council <br />October 20, 1980 <br />Page 2 <br /> <br /> <br />