HomeMy WebLinkAbout10-003 Investment and Banking AuthorityO~ PRI~~. ,`\
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4646 Dakota Street S.E.
Prior Lake, MN 55372-1714
RESOLUTION 10-003
A RESOLUTION DESIGNATING INVESTMENT AND BANKING AUTHORITY
ON BEHALF OF THE CITY OF PRIOR LAKE
Motion By: Keeney Second By: Hedberg
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 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, the City Manager, and Jerilyn Erickson, the 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 4th DAY OF JANUARY, 2010.
YES
NO
Myser X M ser
Erickson X Erickson
Hedberg X Hedberg
Keeney X Keene
Millar X Millar
Specimen Signatures:
Frank Boyles, ~it~ Manager
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rilyn Erickson, Finance Director
Frank Bo ,City Manager
www. cityofpriorlake. com
Phone 952.447.9800 /Fax 952.447.4245