HomeMy WebLinkAbout11-012 Investment and Banking AuthorityPRl��
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4646 Dakota. Street SE
sSO Prior Lake, MN 55372
RESOLUTION 11.012
A RESOLUTION DESIGNATING INVESTMENT AND BANKING AUTHORITY
ON BEHALF OF THE CITY OF PRIOR LAKE
Motion By: Hedberg Second By: Keeney
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 3rd DAY OF JANUARY, 2011.
YES
Specimen Signatu
I 'Q,�
Frank Bovl . Ci
NO
M ser
x
M ser
Erickson
X
Erickson
Hedberg
X
Hedber
Keeney
X
Keene
Soukup
X
Souku
— VAL
Frank Bo OW, City Manager
Finance Director