HomeMy WebLinkAbout19-004 Banking AuthorityWHEREAS,
WHEREAS,
WHEREAS,
4646 Dakota Street SE
Prior Lake. MN 55372
RESOLUTION 19-OO4
A RESOLUTION DESIGNATING INVESTMENT AND BANKING AUTHORITY
ON BEHALF OF THE CITY OF PRIOR LAKE
Motion By: THDI4PSA /Second By:ft?.,4!S
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.
Frank ager
Specimen Srgnafures
WHEREAS,
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. lvlichael Plante, City Manager (effective 21712019), 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.
PASSED AND ADOPTED THIS 7th DAY OF JANUARY 2019
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Michael Plante, City Manager
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aakiEi;fnn, F in a nce Direcr
Jason E Accounti Manager
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VOTE Bdqas Thompson Braid Burkart Erickson
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