Laserfiche WebLink
<br />. <br /> <br />. <br /> <br />. <br /> <br />RESOLUTION NO. 4271 <br /> <br />CITY OF MOUNDS VIEW <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br /> <br />RESOLUTION AUTHORIZING THE TRANSFER OF FUNDS <br />AND THE PURCHASE OR SALE OF SECURITIES <br /> <br />WHEREAS, Minnesota Statutes section 471.56 authorizes <br />the investment of temporarily idle municipal funds and specifies <br />the conditions under which they may be invested; and <br /> <br />WHEREAS, the Council has given the Finance Director - <br />Treasurer primary responsibility for the investment of <br />temporarily idle municipal funds and the Clerk - Administrator <br />responsibility in the Finance Director - Treasurer's absence; and <br /> <br />WHEREAS, from time to time the City of Mounds View <br />orally requests financial institutions to transfer funds for the <br />purchase or sale of securities in a manner which makes it <br />inconvenient or impossible to execute written authorizations, <br />instructions and releases required by financial institutions; and <br /> <br />WHEREAS, in order that financial institutions may have <br />standing instructions upon which to act pursuant to oral requests <br />for the transfer of funds for the purchase or sale of securities; <br /> <br />NOW, THEREFORE, BE IT RESOLVED, by the Council that <br />Donald Brager, Finance Director - Treasurer and Samantha Orduno, <br />Clerk - Administrator of this City are hereby authorized to <br />transact the business of wire transfers on behalf of the City of <br />Mounds View with financial institutions designated as primary <br />and/or secondary depositories of City funds providing for <br />telephonic requests for the transmission of funds belonging to <br />the City of Mounds View. <br /> <br />BE IT FURTHER RESOLVED, by the Council that Donald <br />Brager, Finance Director - Treasurer and Samantha Orduno, Clerk - <br />Administrator of this City are hereby authorized to purchase, <br />sell, assign and/or transfer united States Government and Federal <br />Agency securities, money market instruments and repurchase <br />agreements for cash, next day, corporate, and forward settlement <br />on behalf of the City of Mounds View and that financial <br />institutions designated as primary and/or secondary depositories <br />of City funds are authorized to act upon such orders and <br />instructions whether written or oral with respect to such account <br />and/or the delivery of securities or money therefrom when <br />received from said persons. <br />