HomeMy WebLinkAboutCity Council Resolution 2015-003CITY OF PLYMOUTH
RESOLUTION No. 2015-003
A RESOLUTION APPOINTING OFFICIAL DEPOSITORIES
FOR CITY FUNDS FOR 2015
WHEREAS, State Statutes require the City to designate depositories for City funds; and
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
2015 or until a new bank is selected through the "Request for Proposal" process and approved by
Council for the City of Plymouth.
BE IT FURTHER RESOLVED that the Mayor, City Manager, and Finance Manager are the
authorized signers for all City bank accounts; and
BE IT FURTHER RESOLVED that the designation of the foregoing depositories are contingent
upon receipt by the City of Plymouth.
APPROVED this 13th day of January, 2015.