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RESOLUTION NO. 4271 <br /> CITY OF MOUNDS VIEW <br /> COUNTY OF RAMSEY <br /> STATE OF MINNESOTA <br /> RESOLUTION AUTHORIZING THE TRANSFER OF FUNDS <br /> AND THE PURCHASE OR SALE OF SECURITIES <br /> WHEREAS, Minnesota Statutes Section 471.56 authorizes <br /> the investment of temporarily idle municipal funds and specifies <br />-- --- the conditions undcr which they may be invested; and <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 /> 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 /> 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 /> 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 /> 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 />