HomeMy WebLinkAboutCity Council Resolution 2010-121CITY OF PLYMOUTH
RESOLUTION No. 2010-121
A RESOLUTION UPDATING THE OFFICIAL DEPOSITORY FOR CITY FUNDS FOR 2010
WHEREAS, Minnesota statutes require municipalities like the City of Plymouth to
designate depositories for city fiends; and
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 solicited bids in February 2010 from qualified banking service
providers to serve as the official city depository; and
WHEREAS, M&I Bank met the overall criteria evaluated; and
NOW, THEREFORE BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE
CITY OF PLYMOUTH, MINNESOTA, that M & I Bank be designated as the official
depository effective July 1, 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 11th day of May 2010.