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Councilmember introduced the following resolution and moved for its adoption: <br />RESOLUTION #24-017 <br />RESOLUTION DESIGNATING BMO BANK (FORMERLY BANK OF THE WEST) AS <br />OFFICIAL FINANCIAL INSTITUTION FOR THE CITY OF RAMSEY BANKING <br />SERVICES FOR THE YEAR OF 2024 <br />WHEREAS, the City of Ramsey must designate certain institutions as official depositories <br />of City funds in accordance with Minnesota Statutes Chapter 118A.04. <br />WHEREAS, the City of Ramsey has selected BMO Bank for its banking services for the <br />year of 2025; <br />WHEREAS, banking services will consist of such items as daily deposits of cash receipts, <br />wire transfers of funds, and automated payroll for direct deposit; <br />NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF <br />RAMSEY, ANOKA COUNTY, STATE OF MINNESOTA, as follows: <br />1) That the City of Ramsey hereby appoints BMO Bank as the financial institution that will <br />provide the City its banking services for the year 2024. <br />The motion for the adoption of the foregoing resolution was duly seconded by Councilmember, <br />and upon vote being taken thereon, the following voted in favor thereof. - <br />and the following voted against the same: <br />and the following abstained: <br />and the following were absent: <br />Whereupon said resolution was declared duly passed and adopted by the Ramsey City Council this <br />the 9th day of January, 2024. <br />Mayor <br />ATTEST: <br />City Clerk <br />