HomeMy WebLinkAbout19-003 Banking AuthorityWHEREAS,
WHEREAS,
WHEREAS,
4646 Dakota Street SE
Prior Lake. MN 55372
RESOLUTION 19-OO3
A RESOLUTION DESIGNATING INVESTMENT AND BANKING AUTHORIry
ON BEHALF OF THE CITY OF PRIOR LAKE
Motion By:.T+\DA?SON Second By:BM=\
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 designating and authorizing staff to conduct banking and
investment transactions; 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 lnvestment Policy establishes the primary responsibility for such
investments to be charged to the City Finance Director.
City Manager
WHEREAS,
NOW THEREFORE, BE IT HEREBY RESOLVED BY THE GITY COUNCIL OF PRIOR LAKE,
MINNESOTA as follows:
PASSED AND ADOPTED THIS 7th DAY OF JANUARY 2019
VOTE Briggs Thompson Braid Burkarl EricksonAye tr
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Frank Bo
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vCath n, Finance Director
Jason E r, Acco n ting Manager
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'1 . The recitals set forth above are incorporated herein.
2. Frank Boyles, City Manager (through 21612019), Cathy Erickson, Finance Director, and
Jason Etter, 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.
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