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<br />~,l.r '~ ~ <br /> <br />~:' ~, <br /> <br />,! 1/ <br /> <br />RESOLUTION NO. 86-1 <br /> <br />STATE OF MINNESOTA <br />COUNTY OF RANSEY <br />CITY OF NEW BRIGH'I'ON <br /> <br />RES~LUTION DESIGNATING INSTITUTIONS AS DEPOSITORIES OF CITY FUNDS FOR <br />INVflSTMENT PURPOSES <br />I! <br />,I <br />!: <br />I: WHEREAS, the City Council must officially designate depositories <br />I: <br />for i (funds, and <br /> <br />: WHEREAS, the City Council has designated the First State Bank of <br />New ~righton as its primary depository, and <br /> <br />Ii WHEREAS, the City Council has determined that it is the best in- <br />ter~st of the City to designate additional depositories of City funds <br />for liinvestment purposes, and <br />Ii <br />ii WHEREAS, deposits in excess of the Federal Deposit Insurance Cor- <br />por~tion shall be protected by corporate surety bond or collateral <br />sec~rity in accordance with Minnesota Statutes. <br /> <br />!: NOW, THEREFORE, BE IT HESOLVED that the City Council of New Brigh <br />des~gnates the following institutions as depositories of City funds fo <br />inv~stment purposes: <br />I, <br />Ii <br />!i <br /> <br />on <br /> <br />I: <br />ij <br />;( <br /> <br />,First State Bank of New Brighton <br />American National Bank <br />Norwest Bank Central <br />Norwest Bank Minneapolis <br />Norwest Bank St. Paul <br />Offerman & Co., Inc. - Minneapolis <br />First Bank Minneapolis <br />1/- First Bank St. Paul <br />F & M Marquette National Bank <br />First State Bank of St. Paul <br />Twin City Federal Savings and Loan <br />Dain Bosworth Incorporate of Minneapolis <br /> <br />\..- <br /> <br />Ii BE IT FURTHER RESOLVED that the City Council of New Brighton appr <br />eit~er a corporate surety bond or collateral furnished as a security w <br />deposits made at any depository herein specified exceed the Federal De <br />it ~nsurance Corporation or Federal Savings and Loan Insurance Corpora <br />gua:tantee. <br /> <br />': Adpoted this 14th day of January , 1986. <br /> <br /> <br />,: <br /> <br />ii <br />r*FT' <br />~. Egan <br />Fin~Il1J:c--D~1::"~c;t.or/City Clerk <br /> <br /> <br />-' <br /> <br />_;~1r -- <br /> <br />( S L':~-':' -- <br />l:,-,:"~LJ ---- <br /> <br />~ ,....,. <br /> <br />"--..-'; <br /> <br />..c:.;.:i <br />.' <br />- l' <br />--1- <br />.-r <br />,- <br /> <br />-,..- <br /> <br />". /~'."" <br /> <br />::.. -'. ~ ,. ~ <br />