HomeMy WebLinkAbout6.a. Resolution of Official DepositoriesCITY OF ROSEMOUNT
RESOLUTION 1988-1
A RESOLUTION NAMING DEPOSITORIES/FINANCIAL
INSTITUTIONS FOR CITY FUNDS
WHEREAS, the City of Rosemount is required by law to designate
depositories/financial institutions for City funds.
NOW THEREFORE BE IT RESOLVED, that the City Council of the City of
Rosemount designates the First State Bank of Rosemount, a locally owned
bank as an official depository for City funds, both checking and savings
per Minnesota Statutes 118.01; and
BE IT FURTHER RESOLVED, that the City Council of the City of Rosemount
designates as depositories/financial institutions for City funds,
Midwest Federal Savings and Loan and Rosemount National Bank, and all
branch offices of the aforementioned savings and financial institutions
who are qualified to guarantee investments up to $100,000.00 through the
Federal Deposit Insurance Corporation and per Federal Savings and Loan
Insurance Corporation or secured collateral.
ADOPTED this 5th day of January, 1988.
Rollan Hoke, Mayor
ATTEST:
Stephan Jilk, Administrator/Clerk