HomeMy WebLinkAbout00-28 RESOLUTION 00-28
APPOINTING MARQUETTE BANK AS
OFFICIAL CITY BANK
WItEREAS, the City is interested in designating an official depository for public funds
for a three year time period; and
WItEREAS, the City wishes to obtain the most competitive and cost effective service to
process its municipal financial transactions; and
WHEREAS, the City has formally solicited request for proposals from the local banking
institutions; and
WItEREAS, the City has evaluated all proposals with respect to service charge costs,
availability of safety deposit box security and the potential for earned
investment income based upon quoted interest rates that will be pegged to
the U.S. Treasury; and
WHEREAS, the City of Prior Lake is interested in appointing the banking institution
which would best serve the financial interests of the City.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF PRIOR LAKE,
that the City of Prior Lake hereby appoints Marquette Bank as its official bank, based upon the
interest rates and service fees set forth in their proposal and stated in the April 3 and April 17th,
2000 Staff report effective May 1, 2000 until December 31, 2003.
Passed and adopted this 17th day of April, 2000.
YES NO
Mader X Mader
Ericson X Ericson
Gundlach X Gundlach
Petersen X Petersen
Schenck Schenck /q X
{Seal} City Manage/r / /
City of Pri ~ Le~.k~
16200 Eagle Creek Ave. S.E., Prior Lake, Minnesota 55372-1714 / Ph. (612) 447-4230 / Fax (612) 447-4245
AN EQUAL OPPORTUNITY EMPLOYER