HomeMy WebLinkAboutCity Council Resolution 2014-002CITY OF PLYMOUTH
RESOLUTION No. 2014-002
A RESOLUTION APPOINTING OFFICIAL DEPOSITORIES
FOR CITY FUNDS FOR 2014
WHEREAS, State Statutes require the City to designate depositories for City fiends;
WHEREAS, The City of Plymouth periodically solicits proposals from service providers to seek
the most qualified provider at a responsible cost; and
WHEREAS, The City of Plymouth solicited proposals in 2010 from qualified banking service
providers to serve as the official City Depository; and
WHEREAS, BMO Harris Bank, formerly known as M&I Marshall and Ilsley Bank, was named
as the official depository for general banking services; and
WHEREAS, Wells Fargo is utilized as a worker's compensation clearing account.
NOW, THEREFORE BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY
OF PLYMOUTH, MINNESOTA, that BMO Harris Bank and Wells Fargo Bank be designated as the
official depositories for 2014 for the City of Plymouth; and
BE IT FURTHER RESOLVED that the Mayor, City Manager, and Finance Manager are the
authorized signers for all City bank accounts;
BE IT FURTHER RESOLVED that the designation of the foregoing depositories are contingent
upon receipt by the City of Plymouth of evidence sufficient collateral in the amount and kinds as
required by the State Statutes.
Approved this 14th day of January, 2014