HomeMy WebLinkAboutCity Council Resolution 1988-017IW ql; L
Pursuant to due call and notice thereof, a regular meeting of the City
Council of the City of Plymouth, Minnesota was held on the 4th .day of
January 1988. The following were present: Mayor Schneider,
Councilmembers Vasiliou, Ricker,- Zitur and Sisk
The following members were absent: None
Councilmember Sisk introduceB the following Resolution and moved its
adoption.
RESOLUTION NO. 88-17
APPOINTING OFFICIAL DEPOSITORIES
FOR CITY FUNDS FOR 1988
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 1988 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 1988; the First
Bank System, Twin City Federal Savings and Loan, Norwest Banks,, the American
National Bank of St. Paul, the Bank Wayzata, F A A Marquette National Banks,
First National Bank of Wayzata and the Metro Bank Plymouth; .
BE IT FURTHER RESOLVED that investment counselors and institutions may be
utilized during the 1988 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 bf the foregoing Resolution was duly seconded by
Councilmemher Zitur and upon vote being taken thereon, the following
voted in favor thereof Mayor Schneider, Counrilmem�_Vasiliou; Rieker___r__
The following voted against or abstained: None
Whereupon the Resolution was declared duly passed and adopted.