HomeMy WebLinkAbout05-09RESOLUTION 05-09
16200 Eagle Creek.Avenue S.E.
Prior Lake, MN 55372-1714
A RESOLUTION DESIGNATING.INVESTMENT AUTHORITY
ON BEHALF OF THE CITY OF PRIOR LAKE
WHEREAS,
WHEREAS,
WHEREAS,
Motion By: Joe Zieska Second By: Chad LeMair
the City of Prior Lake is organized as a municipal government under state statutes and
duly incorporated as a city in 1891; and
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
the City's Investment Policy establishes the primary responsibility for such investments to
be 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 3rd DAY OF JANUARY, 2005.
YES NO
Haugen x Haugen
Vacant Vacant
LeMair x LeMair
Petersen x Petersen
Zieska x Zieska
Specimen Signatures:
Frant~ Boy e~/City Manager
City M - '
anager, l y o Prior Lake
Ralph Teschner, Finance Director
www. ci~,ofpriortake, com
H:\lNVEST',,Investment Authority Resolutior~F1e 952.447.4230 / Fax 952.447.4245