The URL can be used to link to this page

Home My WebLink About7A - Election of Officers 16200 Eagle Creek Avenue S.E. Prior Lake, MN 55372-1714 CITY EDA ANNUAL MEI:.IIN(i CITY OF PRIOR LAKE FIRE STATION 5:30 PM MEETING DATE: AGENDA #: PREPARED BY: AGENDA ITEM: January 18, 2005 7A JOHN SULLIVAN, COMMUNITY DEVELOPMENT DIRECTOR ELECTION OF EDA OFFICERS FOR 2005 DISCUSSION: Historv: The City has an Economic Development Authority, with the powers granted through MN State Statutes, and according to its Bylaws and Enabling Resolution, needs to appoint officers at the annual meeting of each year. This meeting serves as the official meeting of the Prior Lake EDA. The Prior Lake EDA, according to its Bylaws and Enabling Resolution, utilizes the City Council as its members. Current Circumstances: According to the Bylaws, the following appointments should be made. Unless otherwise determined by the EDA, the term of the appointments correspond with the councilmember's term of office. I have included current incumbents in the list for informational purposes: 1 . President - Joe Zieska 2. Vice President - Chad LeMair 3. Treasurer - Jack Haugen 4. Assistant Treasurer - Ralph Teschner 5. Executive Director - Frank Boyles 6. Secretary - Administrative Assistant 7. EDA Attorney - Suesan Lea Pace 8. Depository Services Conclusion: The EDA should nominate members to fill the offices identified above. The resolution of depository services should also be considered. Recommendation: Make a motion with a second to appoint the 2005 EDA officers and adopt the resolution naming an official depository. REVIEWED BY: h:\comm dev reports to frank boyles\1-18-05 city eda work session annual meeting appointment of 2005 eda officers.doc Page 1 www.cityofpriorlake.com Phone 952.447.4230 / Fax 952.447.4245 DEPOSITORY SERVICES RESOLUTION FOR GOVERNMENTAL ENTITIES DEPOSITOR NAME: City of Prior Lake EDA CONTACT: Ralph Teschner ADDRESS: 16200 Eagle Creek Avenue SE, Prior Lake, MN 55372 TAX IDENTIFICATION NUMBER: 41-1879777 I, Frank Boyles (name of certifying officer) do hereby certify that I am the City Manager (title of certifying officer) of the above-named entity (therein called the "Depositor'1 a Municipality existing under the laws of the State of Minnesota and that the following is a true, complete and correct copy of resolutions adopted at a meeting of the Depositor duly and properly called and held on the 18th day of January , 20 05 ; that a quorum was present at said meeting; and that said resolutions are now in full force and effect. RESOLVED, that U.S. Bank National Association is hereby designated as a depository of the Depositor with authority to accept or receive at any time for the credit of the Depositor deposits by whomsoever made of funds and other property in whatever form or manner transferred to endorsed; and that any officer of the Depositor is hereby authorized to open or cause to be opened one or more accounts with the Bank on such terms, conditions and agreements as the Bank may now or hereafter require and to make any other agreements deemed advisable in regard to any of the foregoing. Depositor acknowledges and agrees that the services contemplated by this resolution shall be governed by the U.S. Bank Customer Agreement for commercial deposit accounts, as amended from time to time. RESOLVED, that checks, drafts or other orders for the payment, transfer or withdrawal of any of the funds or other property of the Depositor on deposit with the Bank shall be binding on the Depositor when signed, manually or by use of a facsimile or mechanical signature or otherwise authorized, by anyone of the individuals listed in the section entitled "Authorized Signers", and the Bank is hereby authorized to pay and charge to the account of the Depositor any such checks, drafts or other orders so signed or otherwise authorized, including those payable to the individual order of the same person or persons signing or otherwise authorizing the same and including also those payable to the Bank or to any other person for application, or which are actually applied to the payment of any such indebtedness owing the Bank from the person or persons who signed such checks, drafts or other withdrawal orders or otherwise authorized such withdrawals. In particular, and not in limitation of foregoing, such persons may authorize payment, transfer or withdrawal by oral or telephonic directions to the Bank complying with such rules and regulations relating to such authorization as the Bank may communicate to the Depositor from time to time. RESOLVED, that the City Manager (identify certifying officer by title) hereby certifies to the Bank the names and signatures (either actual or any form or forms of facsimile or mechanical signatures adopted by the person authorized to sign) of the Authorized Signers listed below and shall from time to time hereafter, upon a change in the facts so certified, immediately certify to the Bank the names and signatures (actual or facsimile) of the persons then authorized to sign or to act. The Bank shall be fully protected in relying on such certificates and on the obligation of the certifying officer (set forth above) to immediately certify to the Bank any change in any facts so certified, and the Bank shall be indemnified and saved harmless by the Depositor from any claims, demands, expenses, loss or damage resulting from or growing out of honoring or relying on the signature of other authority (whether or not properly used and, in the case of any facsimile signature, regardless of when or by whom or by what means such signature may have been made or affixed) of any officer or person whose name and signature was so certified, or refusing to honor any signature or authority not so certified. RESOLVED, That these resolutions shall continue in force until express written notice of their rescission or modification has been furnished to and received by the Bank; and RESOLVED, That any and all transactions by or on behalf of the Depositor with the Bank prior to the adoption of this resolution be, and the same hereby are, in all respects ratified, approved and confirmed. I further certify that the officers of the Depositor signing the resolution, have, and at the time of adoption of said resolutions had, full power and lawful authority to adopt the foregoing resolutions and to confer the powers therein granted to the persons named, and that such persons have full power and authority to exercise the same. I further certify that the names, titles ( if any) and signatures (actual or facsimile) of the persons authorized to sign or act on behalf of the Depositor by its governing board identified above are as set forth below in the section of this Resolution entitled "Authorized Signers". I further certify, under penalties of perjury, that the tax identification number shown above is correct and that the Depositor is not subject to backup withholding because (a) it is exempt, (b) has not been notified by the Internal Revenue Service (IRS) that it is subject to backup withholding as a result of a failure to report all interest or dividends or (c) the IRS has notified the Depositor that it is no longer subject to backup withholding. I further certify that the Authorized Signers below are also hereby authorized to transact any and all other business with and through the Bank regarding this account, including, without limitation, treasury management services offered by Bank. Account Number: 104775016843 Authorized Signers Name Title Sh!:nature Frank Boyles City Manager Ralph Teschner Finance Director IN WITNESS WHEREOF, I have hereunto subscribed my name and affixed the seal of the Depositor this 19th day of January , 20 05 (Certifying Officer) City Manager (Title) (Attest by one other officer) Finance Director (Title) 2