HomeMy WebLinkAbout2014-01-15 PACKET 04.D.REQUEST OF CITY COUNCIL ACTION COUNCIL AGENDA
MEETING ITEM #
DATE 1/15/2014
PREPARED BY Finance Robin Roland
ORIGINATING DEPARTMENT DEPARTMENT HEAD
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COUNCIL ACTION REQUEST
Consider adopting a resolution designating depositories for City funds and authorizing the
investment of surplus funds for 2014.
STAFF RECOMMENDATION
Adopt the resolution.
SUPPORTING DOCUMENTS
❑ MEMO/LETTER:
� RESOLUTION: Draft.
❑ ORDINANCE:
❑ ENGINEERING RECOMMENDATION:
❑ LEGAL RECOMMENDATION:
❑ OTHER:
ADMINISTRATORS COMMENTS:
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� City Administrator Date
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RESOLUTION NO. 14-
DESIGNATING DEPOSITORIES FOR CITY FUNDS AND AUTHORIZING THE
INVESTMENT OF SURPLUS FUNDS FOR 2014
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 15th day of January 2014.
Myron Bailey, Mayor
Attest:
Caron Stransky, City Clerk