HomeMy WebLinkAbout02-03 RESOLUTION 02-03
A RESOLUTION DESIGNATING INVESTMENT AUTHORITY
ON BEHALF OF THE CITY OF PRIOR LAKE
Motion By: ZIESKA Second By: ERICSON
WHEREAS, the City of Prior Lake is organized as a municipal government under state statutues 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 7th DAY OF JANUARY, 2002.
YES NO
Haugen X Haugen
Ericson X Ericson
Gundlach X Gundlach
Petersen Absent Petersen
Zieska X Zieska
City Manager, City of Prior Lake
Specimen Signatures:
Frank Boyles, ~ M~nager
Ralph Teschner, Finance Director
16200 Eagle Creek Ave. S.E., Prior Lake, Minnesota 55372-1714 / Ph. (952) 447-4230 / Fax (952) 447-4245
AN EQUAL OPPORTUNITY EMPLOYER