HomeMy WebLinkAboutCity Council Resolution 1987-026CITY OF PLYMOUTH
Pursuant to due call and notice thereof, a regular meeting of the City
Council of the City of Plymouth, Minnesota was held on the 5th day
of January , 1987. The following members were present:
Mayor Schneider, Councilmembers Crain, Sisk, Vasiliou, and Zitur
The following members were absent: none
Councilmember Sisk introduced the following Resolution and moved
its adoption:
RESOLUTION NO. 87-26
APPOINTING OFFICIAL DEPOSITORIES
FOR CITY FUNDS FOR 1987
WHEREAS, State Statutes require that the City designate general depositories
for City monies;
NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF
PLYMOUTH, MINNESOTA, that Norwest Bank MetroWest be designated as the official
general depository for 1987 for the City of Plymouth's operating checking
accounts;
BE IT FURTHER RESOLVED that the following be designated as official
depositories for the City's temporary investment program for 1987; the First
Bank System, Twin City Federal Savings and Loan, Norwest Banks, the American
National Bank of St. Paul, The Bank Wayzata, F b M Marquette National Banks,
First National Bank of Wayzata and the Metro Bank Plymouth;
BE IT FURTHER RESOLVED that investment counselors may be utilized during the
1987 year for the acquisition of commercial paper, banker's acceptances, and
governmental securities;
BE IT FURTHER RESOLVED that the designation of the foregoing depositories are
contingent upon receipt by the City of Plymouth of evidence of sufficient
collateral in the amount and kinds as required by the State Statutes.
The motion for the adoption of the foregoing Resolution was duly seconded by
Councalmember Zitur 'and upon vote being taken thereon, the
following voted in favor thereof: Mayor Schneider, Councilmembers Crain,
Sisk, Vasiliou, and Zityr
The following voted against or abstained: none
Whereupon the Resolution was declared duly passed and adopted.
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