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54 <br />CITY COUNCIL MEETING FEBRUARY 14, 1994 <br />and Unit Fund has sufficient reserves to issue a loan to finance <br />the capital outlay purchases. A special levy will pay for these <br />certificates in 1995 and 1996 and the levy proceeds will be <br />credited to the Area and Unit Fund. <br />Equipment to be funded by the 1994 Certificates of Indebtedness <br />include: <br />- Computer Purchase <br />- Ballfield Groomer <br />- Fire Capital Outlay <br />- (1) Patrol Vehicle <br />- Electronic Engine Analyzer <br />- (1) One ton mini dump/plow truck <br />$25,100.00 <br />$14,000.00 <br />$59,400.00 <br />$16,000.00 <br />$10,500.00 <br />$25,000.00 <br />Total $150,000.00 <br />Council Member Kuether moved to adopt Resolution No. 94 - 13. <br />Council Member Neal seconded the motion. Motion carried <br />unanimously. Resolution No. 94 - 13 can be found at the end of <br />these minutes. <br />Consideration of Seeking Proposals for Depository for City <br />Accounts - Currently, the City has a savings account and a <br />checking account with the Firstar Bank Corporation in Lino Lakes. <br />Since becoming a corporation, the bank no longer waves its <br />banking fees. <br />The Finance Department is recommending that proposals be obtained <br />from other banking institutions in the area as well as the <br />Firstar Bank. The City would be requesting proposals on banking <br />items such as wire transfer of debt service and investment <br />disbursements, cost of overdrafts, cost of checking and savings <br />account deposit slips, general account services, pledge of <br />collateral and in the amount required by State law and credit <br />card service and applicable fees. <br />Mr. Schumacher noted that staff makes on average two (2) trips <br />per week to the bank. This would be taken into consideration <br />when selecting a banking depository. Council Member Neal said he <br />felt that the Police Department should be making all banking <br />trips for the City. <br />Council Member Kuether moved to approve the request to seek <br />proposals for depository for the City accounts as proposed. <br />Council Member Neal seconded the motion. Motion carried <br />unanimously. <br />Consideration of an Agreement with White Bear Township for <br />PAGE 14 <br />1 <br />1 <br />