HomeMy WebLinkAboutResolution 4271
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RESOLUTION NO. 4271
CITY OF MOUNDS VIEW
COUNTY OF RAMSEY
STATE OF MINNESOTA
RESOLUTION AUTHORIZING THE TRANSFER OF FUNDS
AND THE PURCHASE OR SALE OF SECURITIES
WHEREAS, Minnesota Statutes section 471.56 authorizes
the investment of temporarily idle municipal funds and specifies
the conditions under which they may be invested; and
WHEREAS, the Council has given the Finance Director -
Treasurer primary responsibility for the investment of
temporarily idle municipal funds and the Clerk - Administrator
responsibility in the Finance Director - Treasurer's absence; and
WHEREAS, from time to time the City of Mounds View
orally requests financial institutions to transfer funds for the
purchase or sale of securities in a manner which makes it
inconvenient or impossible to execute written authorizations,
instructions and releases required by financial institutions; and
WHEREAS, in order that financial institutions may have
standing instructions upon which to act pursuant to oral requests
for the transfer of funds for the purchase or sale of securities;
NOW, THEREFORE, BE IT RESOLVED, by the Council that
Donald Brager, Finance Director - Treasurer and Samantha Orduno,
Clerk - Administrator of this City are hereby authorized to
transact the business of wire transfers on behalf of the City of
Mounds View with financial institutions designated as primary
and/or secondary depositories of City funds providing for
telephonic requests for the transmission of funds belonging to
the City of Mounds View.
BE IT FURTHER RESOLVED, by the Council that Donald
Brager, Finance Director - Treasurer and Samantha Orduno, Clerk -
Administrator of this City are hereby authorized to purchase,
sell, assign and/or transfer united States Government and Federal
Agency securities, money market instruments and repurchase
agreements for cash, next day, corporate, and forward settlement
on behalf of the City of Mounds View and that financial
institutions designated as primary and/or secondary depositories
of City funds are authorized to act upon such orders and
instructions whether written or oral with respect to such account
and/or the delivery of securities or money therefrom when
received from said persons.
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RESOLUTION NO. 4271
PAGE TWO OF TWO
BE IT FURTHER RESOLVED, by the Council that the
authority conferred herein shall continue in full force and
effect until written notice of its revocation shall be received
by a financial institution at its office.
Adopted this 14th day of September, 1992.
(SEAL)
(ATTEST)
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Administrator