Agenda - Council - 01/13/2026 - Laserfiche WebLink

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CC Regular Session Meeting Date: Primary Strategic Plan Initiative: 5. 24. 01/13/2026 Title: Adopt Resolution #26-013 Designating Financial Institutions as Official Depositories; Adopt Resolution #26-014 Authorizing Signatures for Financial Transactions and Adopt Resolution #26-015 Designating BMO Bank, N.A. as the Official Financial Institution for the City of Ramsey Banking Services for the Year of 2026. Purpose/Background: Minnesota Statutes Section 118A sets forth the procedures that cities must follow for the deposit and investment of local public funds. Annually, the city needs to adopt a resolution that designates financial institutions as official depositories of city funds (Resolution #26-013). The City further adopts Resolution #26-015 that authorizes BMO Bank (an official depository noted in Resolution #26-013) as the City's official bank for banking services such as checking. In addition, Resolution #26-014 is annually adopted that gives authorization to those that can sign off on financial transactions. Notably, the Mayor, Acting Mayor, City Administrator, Finance Director and Assistant Finance Director. Notification: There is an annual requirement that these financial resolutions be adopted. Recommendation: Adopt noted resolutions as these are required to be approved annually. Outcome/Action: Motion to Adopt Resolution #26-013 Designating Financial Institutions as Official Depositories; Adopt Resolution #26-014 Authorizing Signatures for Financial Transactions and Adopt Resolution #26-015 Designating BMO Bank, N.A. as the Official Financial Institution for the City of Ramsey Banking Services for the Year of 2026. Attachments Reso #26-013-Official Depositories Reso #26-014 Authorized Signatures for Financial Transactions Reso #26-015 BMO Bank for Banking Services Form Review Inbox Reviewed By Date Brian Hagen Brian Hagen 01/08/2026 03:20 PM Form Started By: Diana Lund Started On: 01/02/2026 10:12 AM Final Approval Date: 01/08/2026