HomeMy WebLinkAbout2013-01-02 PACKET 04.J.REQUEST OF CITY COUNCIL ACTION
REPARED BY : Finance
COUNCIL AGENDA
MEETING ITEM *y
DATE 1/2/13
Robin Roland
ORIGINATING DEPARTMENT DEPARTMENT HEAD
COUNCIL ACTION REQUEST
Adopt resolution designating depositories for City funds and authorizing the investment of
surplus funds for 2013.
STAFF RECOMMENDATION
Adopt resolution designating depositories for City funds and authorizing the investment of
surplus funds for 2013.
BUDGET IMPLICATION:
BUDGETED AMOUNT
ACTUAL AMOUNT
ADVISORY COMMISSION ACTION
DATE
REVIEWED
APPROVED
DENIED
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❑ PUBLIC WORKS
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❑ PARKS AND RECREATION
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❑ HUMAN SERVICES /RIGHTS
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❑ ECONOMIC DEV. AUTHORITY
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SUPPORTING DOCUMENTS:
❑ MEMO /LETTER:
® RESOLUTION:
❑ ORDINANCE:
❑ ENGINEERING RECOMMENDATION:
❑ LEGAL RECOMMENDATION:
❑ OTHER:
ADMINISTRATORS COMMENTS
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- City Admi istrator D to
HACouncil items \council - action.docx
RESOLUTION NO. 13-
DESIGNATING DEPOSITORIES FOR CITY FUNDS AND AUTHORIZING THE
INVESTMENT OF SURPLUS FUNDS FOR 2013
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 a
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 2nd day of January 2013.
Myron Bailey, Mayor
Attest:
Caron Stransky, City Clerk