HomeMy WebLinkAboutCity Council Resolution 2010-002CITY OF PLYMOUTH
RESOLUTION NO. 2010-002
A RESOLUTION APPOINTING OFFICIAL DEPOSITORIES
FOR CITY FUNDS FOR 2010
WHEREAS, State Statutes require the City to designate depositories for City fiends;
WHEREAS, The City of Plymouth periodically solicits bids from service providers to
seek the most qualified provider at a responsible cost; and
WHEREAS, The City of Plymouth solicited bids in 2005 from qualified banking
service providers to serve as the official City Depository; and
WHEREAS, Anchor Bank N.A. submitted the lowest responsible bid as the
depository for checking and overnight savings; and
WHEREAS, Wells Fargo submitted the lowest responsible bid for utility lockbox
services and as a worker's compensation clearing account.
NOW, THEREFORE BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF
THE CITY OF PLYMOUTH, MINNESOTA, that Anchor Bank National Association and
Wells Fargo Bank be designated as the official depositories 2010 for the City of Plymouth's
depository accounts; and
BE IT FURTHER RESOLVED that the Mayor, City Manager, and Director of
Administrative Services 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 12th day of January 2010.