HomeMy WebLinkAboutCity Council Resolution 2015-180CITY OF PLYMOUTH
RESOLUTION No. 2015-180
RESOLUTION UPDATING THE OFFICIAL DEPOSITORY FOR CITY FUNDS FOR 2015
WHEREAS, Minnesota statutes require municipalities to designate depositories for city funds;
and
WHEREAS, the City of Plymouth requested proposals for banking services on March 30,
2015; and
WHEREAS, seven banking institutions submitted qualified proposals; and
WHEREAS, US Bank met all evaluation criteria and provided the most cost competitive
alternative.
NOW, THEREFORE BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF PLYMOUTH,
MINNESOTA, that US Bank be designated as the city's official depository bank for all bank accounts
effective July 1, 2015.
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 of evidence of sufficient collateral in the
amount and kinds as required by the State Statutes.
APPROVED by the City Council on this 23rd day of June, 2015.