HomeMy WebLinkAbout2009-12-16 PACKET 04.H.REQUEST OF CITY COUNCIL ACTION COUNCIL AGENDA
MEETING ITEM #
DATE 12 -16 -09
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Finance
ORIGINATING DEPARTMENZ
101
COUNCIL ACTION REQUEST
Adopt resolution designating depositories for City funds and authorizing the investment of
surplus funds for 2009 and 2010.
STAFF RECOMMENDATION
Adopt resolution designating depositories for City funds and authorizing the investment of
surplus funds for 2009 and 2010
BUDGET IMPLICATION
BUDGETED AMOUNT
ADVISORY COMMISSION ACTION
❑ PLANNING
❑ PUBLIC SAFETY
❑ PUBLIC WORKS
❑ PARKS AND RECREATION
❑ HUMAN SERVICES /RIGHTS
❑ ECONOMIC DEV. AUTHORITY
SUPPORTING DOCUMENTS
ACTUAL AMOUNT
DATE REVIEWED
APPROVED
DENIED
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❑ MEMO /LETTER:
® RESOLUTION:
❑ ORDINANCE:
❑ ENGINEERING RECOMMENDATION:
❑ LEGAL RECOMMENDATION:
El OTHER:
"City Administrator
ADMINISTRATORS COMMENTS
Date
COUNCIL ACTION TAKEN: APPROVED ❑ DENIED ❑ OTHER
G: \finance \Council Items= Action Form designating depositories December.doc
Robin Roland
RESOLUTION NO. 2009-
DESIGNATING DEPOSITORIES FOR CITY FUNDS AND AUTHORIZING THE
INVESTMENT OF SURPLUS FUNDS FOR 2009 AND 2010
WHEREAS, Minnesota Statute Chapter 118A requires that the City
Council must designate all banks, savings and loan associations, and investment
brokers as depositories of City funds on a yearly basis, and
WHEREAS, the City Council may authorize the Treasurer or Chief
Financial Officer to exercise powers of the governing body in designating
depository of City funds.
NOW THEREFORE BE IT RESOLVED, that the City Council of the City of
Cottage Grove, County of Washington, State of Minnesota, authorizes Robin
Roland, Finance Director of the City of Cottage Grove to designate depositories
of City funds
BE IT FURTHER RESOLVED, that the Finance Director or other
responsible designee of the City of Cottage Grove be authorized to make bank
wire transfers for investment transactions.
Passed this 16` day of December 2009.
Myron Bailey, Mayor
Attest:
Ryan Schroeder, City Administrator