HomeMy WebLinkAbout03-008 RESOLUTION 03-08
A RESOLUTION DESIGNATING INVESTMENT AUTHORITY
ON BEHALF OF THE CITY OF PRIOR LAKE
Motion By: ZIESKA Second By: LEMAIR
WHEREAS, the City of Prior Lake is organized as a municipal government under state statutes and duly
incorporated as a city in 1891; and
WHEREAS, the City is interested in investing its available funds at the highest rate of return available
subject to preservation of principal and in accordance with state statutes and consistent
with the cash flow needs of the City; and
WHEREAS, the primary responsibility for such investments is hereby charged to the City Finance
Director.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF PRIOR LAKE, MINNESOTA that:
1. The recitals set forth above are incorporated herein.
2. Frank Boyles and Ralph Teschner are hereby designated with full power and authority to open
investment accounts in the name of the City of Prior Lake, invest such funds of the City as deemed
necessary, and to execute all purchases and withdrawals associated with such investments.
PASSED AND ADOPTED THIS 6th DAY OF JANUARY, 2003.
YES NO
Haugen X Haugen
Blomberg X Ericson
LeMair X Gundlach
Petersen X Petersen
Zieska X Zieska
City Manager, City of Prior Lake
Specimen Signaturesi
Frank Boyles, City Manager
Ralph 'l'eschhe"r, Finance Director
R:\RESOLUTI\FINARES\2003\03-08.DOC
16200 Eagle Creek Ave. S.E., Prior Lake, Hinnesota 55372-1714 / Ph. (612) 447-4230 / Fax (612) 447-4245
AN EQUAL OPPORTUNITY EMPLOYER