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~i~u~~s <br />city counoil <br />August 5, 1981 <br />By doing this, when the City has some money to invest, it can ca11 <br />the various institutions and get quotes on interest rates and the <br />City can then invest its money witn the institution giving the rnost <br />favorable quote to 'nhe City. <br />'Phe City Clerk subrnitted a list of banks and savings and loans for <br />approval as City depositories> The i~ayor pointed out thati tkze Little <br />Canada kirst State ttank was already approved as the uity~s depository <br />and did not need approval again, <br />i°ir. Hanson introduced the following resolution and moved its adoptioxas <br />RN;SOLUTIOiV N0, ~t-S-39~ - Nnc4ING 'i'HE FOLLOWSNG AS CITY <br />DEYOSI'1'UR1ESe NOHTH S'1'AR STATE BANK9 NiAPLEW00ll uTATE <br />BANii9 ROSEVILLE ST.ATE BANd9 VEu~T BRIGHTOiV S`L'ATk; EANK AiVD <br />`i'AL FINST F~Dk;RAi, SAVINGS ANll LOAN ASSOCTATTON <br />2'he foregoing resolution was duly sscaz~ded by anrs. Scalze. <br />Ayes (5) lianson9 Sca].ze9 Narriini~ Forsberg~ Fahey. <br />Nayes (0). <br />Resolution declared adopted, <br />rnis resolution appeai•s in I?esolution 13ook No, /9 rages 26t~ a~U 265. <br />Tne ua.ty Clerk stated tha:t t~,ere were a f'eca more instizutions he <br />wou].d like a~yroved as Cz'ty deposiwriea, and he wo~il.d sub,~~ic a <br />list to 'l:he Counc:il a't a later date, <br />The City Clerk also subanitted 't,o the Council an exhapit showing the <br />C'~ty~s aaily investment balance. This wi11 p,ive ~ne Gity a better <br />idea of its cash ~'low situ~tion. <br />I~ir, Voto also recoruneradc;d that the City monitor its utili~y rates <br />and utility costs annually, <br />~'oto also :rF:corm~zen.<:]<>d severa.l :i.r.t;erfund audit adjustments be made, <br />These are cpontained in Exhibzt ~ o:f isk~e tinizu~l. :~~'i.izar:ci~~7. iZeport <br />FAIdCj LO~tF.2.1. i'p1Z9C~Jj,IE/q <br />ro: ~ t'al~ey introduced the follo~ving resolu'tion and moved its ado~ tione <br />I~.ESOLUTSOM NU< 81~8-392 - AU"'itORIZING `PHli SNTE2tFUND AUDTT <br />A J 1:N NT ONTA NED J:I4 L':XHIBIT 6 OF i'HE AIdNUAL F'INANCIAL <br />REYpRT SUBI~iST`PED BY 7eLAIIUNT VOTO & C0, 9 LTll, DATEU <br />DF.CEMBER 319 1980 IN THE TOTI~L AMOUNT OF $129595.l~7 <br />The Poregoing xesolution was duly secorided by Mr, kiansora, <br />Ayes (5) F'ahey' ilanson9 Forsberg' Scalze' i~ardini. <br />N~yes (0), <br />Reso:Luta.on declared a.dopted, <br />`L'Yais resolution appears a.n l~.esolution k3oolc tio. 7' Page 265, <br />Page p3- <br />