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i <br />,a <br /> USOLUTION NO. 76-005 <br />:z-' A RFSOLMION DB<SIGNAT3:ffG DEPDSITORr <br /> FOR CITY FUNDS <br />%! BE IT RESOLVED b the 'Ci <br /> ! Y City',Council of the City of St. Anthony, the <br /> State. Bank of St. Anthony' Village is hereby designated as a depository frtthat the funds <br /> of this Cit and that said bank shall also be the b <br /> Y bank for this City with respect to <br /> any/all other banking services required or used b this Ci <br /> in the event the City has occasion to Y City; Provided, however, that <br /> Purchase U.S. 7�easury bills, U.S. Treasury notes <br /> C.D.'s or' other similar investments the,City shall solicit from the State Bank of St. <br /> Anthony and from any other interested banking institutions, the rate of interest each <br /> institution is willing to pay, and the CityNotes, shall purchase said U. S. Treasury Bills, <br /> Treasury C.D.'s or similar investment from the institution offering the <br /> highest rate to the City. If any institution offers the same rate of interest as the <br /> interest rate offered by the State Bank of,St. AnthonyVillage <br /> made from the State Bank of St. AnthonyVillage Y at the purchase_shall be <br /> rate offered.: °Y provided that this is the highest <br /> RESOLVED FURTHERa <br /> that the City Manager shall prepare a regular report for <br /> the Council Which report shall be in writing and included in the agenda for the <br /> following Council meeting, and which re <br /> period of all U.S. Treasury port shall contain a summary for the preceeding <br /> � ury Bills, U.S. Treasury Notes, C.D. 's and similar investments! purchased by the City during <br /> of all such such period. Said report shall contain a separate listing <br /> purchases made out of the general fund, all such purchases made out of the <br /> liquor fund, and all such purchases made out of any other city fund. The report shall <br /> fi contain for each such purchase a schedule of the interest rates offered by any of the <br /> institutions desirable by the City Manager. <br /> RESOLVED FURTHER <br /> w <br /> r , ithdrawals from the account or accounts shall be made <br /> only upon written order of the Treasurer, countersigned by the City Manager and the <br /> i, Mayor. <br /> I'd <br /> 1. <br /> I RESOLVED FURTHER, that this notice shall continue in force until December <br /> 31st, 1976 or until written notice of its recision or modification has been received <br /> by said bank. <br /> RE5OLVID FURTHER, that said bank deposit such securities in the amount <br /> and in the manner required by law. <br /> r RESOLVED FURTHER, that the City Manager be authorized to accept such <br /> securities as collateral as required by law, and that said collateral be deposited <br /> at the State Bank of St. Anthony Village for ansafekeeping. <br /> Adopted January 6, 1976 a <br /> r, <br /> ATTEST: Ijdj 4ofttZ <br /> i.,J <br /> y <br /> C' Ma er <br />.i <br /> i <br /> s <br />