HomeMy WebLinkAbout15-061 Investment and Banking Authority600iPRtp
4646 Dakota Street SE
4'?NEso'i.` Prior Lake, MN 55372
RESOLUTION 15-063
A RESOLUTION DESIGNATING INVESTMENT AND BANKING AUTHORITY
ON BEHALF OF THE CITY OF PRIOR LAKE
Motion By: KEENEY Second By: MORTON
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, City Manager, and Cathy Erickson, Accounting Manager, 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 13th DAY OF APRIL, 2015.
VOTE Hedberg Keeney McGuire Morton Thompson
Aye
Nay
Absent
Abstain 0 0
t '
Fr- :o les, City Manager
Sped e Sig atur- :
Frank Boyle4r tanager
C
LC I SGL-V,1( (%l '—
Cathy Erickson, Accounting Manager
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