Laserfiche WebLink
• CITY OF ST. ANTHONY <br /> RESOLUTION 93-005 <br /> A RESOLUTION DESIGNATING THE OFFICIAL <br /> DEPOSITORY FOR CITY FUNDS <br /> BE IT RESOLVED by the City Council of the City of St. Anthony, that the Firstar St. <br /> Anthony Bank is hereby designated as a depository for the funds of the City and <br /> that said bank shall also be the bank for this City with respect to any/all other <br /> banking services required or used by this City provided, however, that in the event <br /> the City has occasion to purchase U.S. Treasury Bills, U.S. Treasury Notes, C.D.'s, <br /> or other similar investments, the City shall solicit from the Firstar St. Anthony Bank, <br /> and from any other approved institutions, the rate of interest each institution is <br /> willing to pay; and the City shall purchase said U.S. Treasury Bills, U.S. Treasury <br /> Notes, C.D.'s, or similar investments from the institution offering the highest rate <br /> to the City. If any institution offers the same rate of interest as the interest rate <br /> offered by the Firstar St. Anthony Bank, the purchase shall be made from the <br /> Firstar St. Anthony Bank, provided that this is the highest rate offered. <br /> • FURTHER RESOLVED that the City Finance Officer shall prepare a quarterly report for <br /> the City Manager and the City Council which report shall be in writing and included <br /> in the agenda for the following Council meeting; and which report shall contain a <br /> summary for the preceding period of all U.S. Treasury Bills, U.S. Treasury Notes, <br /> C.D.'s, and similar investments purchased by the City during such period. Said <br /> report shall contain a separate listing of all such purchases made out of the <br /> general fund, all such purchases made out of the liquor fund, and all such <br /> purchases made out of any other City fund. The report shall contain for each such <br /> purchase a schedule of the interest rates offered by the institutions solicited and <br /> the interest rate on current investments. <br /> FURTHER RESOLVED that this notice shall continue in force until December 31, 1993, <br /> or until written notice of its recision or modification has been received by said <br /> bank. <br /> FURTHER RESOLVED that said bank deposit such securities in the amount and in the <br /> manner required by law. <br /> FURTHER RESOLVED that the City Manager be authorized to accept such securities as <br /> collateral as required by law, and that said collateral be deposited at the Firstar St. <br /> Anthony Bank for safekeeping. <br /> • <br />