HomeMy WebLinkAbout07-009
16200 Eagle Creek Avenue S.E.
Prior Lake, MN 55372-1714
RESOLUTION 07-009
A RESOLUTION DESIGNATING INVESTMENT AUTHORITY
ON BEHALF OF THE CITY OF PRIOR LAKE
Motion By: Millar
Second By: LeMair
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 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 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 2nd DAY OF JANUARY, 2007.
Hauaen X Hauaen
Vacant Vacant
Erickson X Erickson
LeMair X LeMair
Millar X Millar
YES
NO
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City Manager, ''City of Prior Lake
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Ralph Teschner, Finance Director
www.cityofpriorlake.com
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