HomeMy WebLinkAbout09-010 Investment and Banking Authority~/~ PRIDE
ti ~ 4646 Dakota Street S.E.
c`j x Prior Lake, MN 55372-1714
\\'~~ESO~~ RESOLUTION 09-010
A RESOLUTION DESIGNATING INVESTMENT AND BANKING AUTHORITY
ON BEHALF OF THE CITY OF PRIOR LAKE
Motion By: Hedberg Second By: Millar
WHEREAS, the City of Prior Lake is organized as a municipal government under state statutes and
duly incorporated as a city in 1.891; and
WHEREAS, the City is interested in designating and authorizing staff to conduct banking and
investment transactions; 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 City's Investment Policy establishes the primary responsibility for such investments
to be charged to the City Finance Director.
NOW THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF PRIOR LAKE,
MINNESOTA as follows:
1. The recitals set forth above are incorporated herein.
2. Frank Boyles, City Manager, and Jerilyn Erickson, Finance Director, are hereby designated with full
power and authority to open bank and investment accounts in the name of the City of Prior Lake,
conduct banking transactions, invest such funds of the City as deemed necessary, and to execute
all purchases and withdrawals associated with such investments.
PASSED AND ADOPTED THIS 5th DAY OF JANUARY, 2009.
YES
Specimen Signatures:
Frank Boyles, City Manager
Jerilyn Erickson, Finance Director
NO
Hau en X Hau en
Erickson X Erickson
Hedber X Hedber
LeMair X LeMair
Millar X Millar
~ v"~`
Frank Boyl ,City Manager
www. cityofpriorlake . com
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Phone 952.447.9800 /Fax 952.447.4245