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1-4-93 special agendaf CITY OF RICHFIELD MONDAY, JANUARY 4, 1993 SPECIAL CITY COUNCIL MEETING 7:00 P.M. COUNCIL CHAMBERS AGENDA CALL TO ORDER 1. OATH OF OFFICE TO SUSAN ROSENBERG, COUNCIL MEMBER WARD ONE; RUSS SUSAG, COUNCIL MEMBER WARD TWO; AND DON PRIEBE, COUNCIL MEMBER WARD THREE 2. DESIGNATION OF OFFICIAL NEWSPAPER FOR 1993 COUNCIL LETTER NO. 1 • 3. DESIGNATION OF OFFICIAL DEPOSITORIES FOR 1993 COUNCIL LETTER NO. 2 4. DESIGNATION OF ACTING CITY MANAGER FOR 1993 COUNCIL LETTER NO. 3 5. DESIGNATION OF MAYOR PRO TEMPORE FOR 1993 COUNCIL LETTER NO. 4 ADJOURNMENT AUXILIARY AIDS FOR INDIVIDUALS WITH DISABILITIES ARE AVAILABLE UPON REQUEST. REQUESTS.MUST BE MADE AT LEAST 96 HOURS IN ADVANCE TO THE ADMINISTRATIVE SERVICES DIRECTOR AT 861-9702. THERE WILL BE A RECEPTION IN THE COUNCIL CHAMBERS FOLLOWING THE SPECIAL CITY COUNCIL MEETING WELCOMING NEW COUNCIL MEMBERS DON PRIEBE, SUSAN ROSENBERG AND RUSS SUSAG CITY OF RICHFIELD, MINNESOTA Council Letter No. 4 Agenda January 4, 1993 Issue Statement: Council designation of Mayor Pro Tempore. Background: It is necessary to designate a Council Member to serve as the Mayor Pro Tempore for those times when the Mayor is absent from the City. Past Mayor Pro Tempores include: 1992 William Bullock 1991 Kristal Stokes 1990 Edwina Garcia 1989 Martin Kirsch 1988 Michael Sandahl 1987 Ivan Ludeman Recommended Motion: Designate a Council Member to serve as Mayor Pro Tempore for 1993. Basis for Recommendation: 1. This appointment is necessary to ensure continuation of City operations during an absence of the Mayor. Alternative Recommendation: 1. Defer this appointment to a later Council meeting. Discussion/Decision Mode: This item has been placed on the January 4, 1993 Council agenda for Council consideration. tfully submitted, Jam D. Prosser Cit$/anaaer JDP:ds • CITY OF RICHFIELD, MINNESOTA Council Letter No. 3 Agenda January 4, 1993 Issue Statement: Council designation of Acting City Manager. Background: It is necessary to designate a person to serve as the Acting City Manager for those times when the City Manager is absent from the City. The Director of Administrative Services has previously been designated as the Acting City Manager. Recommended Motion: Designate Steven L. Devich, Director of Administrative Services, as the Acting City Manager. Basis for Recommendation: 1. This appointment is necessary to ensure continuation of City operations during the absence of the City Manager. Alternative Recommendation: 1. Defer this appointment to a later Council meeting. Discussion/Decision Mode: This matter has been placed on the January 4, 1993 Council agenda for Council consideration. Respectfully submitted, Jam sV . Prosser Cit anaaer JDP:cak CITY OF RICHFIELD, MINNESOTA Council Letter No.2 Agenda January 4, 1993 Issue Statement: Resolutions designating official depositories for the City of Richfield for 1993, including the approval of collateral. Background: In accordance with Minnesota Statutes Section 475.66 and 118.005, the City of Richfield must designate financial institutions annually. The institutions must pledge the collateral over and above the amount of federal insurance, as public depositories. For the year 1993, two institutions have fulfilled this requirement and will be considered as depositories for the City's Deputy Registrar, payroll and vendor accounts and all savings deposits in excess of $100,000. They are Richfield Bank and Trust Company, pledging collateral of $1,000,000; and Firstar Bank of Richfield, pledging collateral of $1,000,000; Norwest Bank Minnesota and Twin City Federal are also official depositories for the City, however, balances in these institutions do not exceed $100,000 and thus collateral is not required. Resolutions designating these institutions as official depositories are attached to the Council Letter. Another resolution must be provided annually, designating certain savings and loan associations and banks as official depositories for investment of certain City funds. With approval of these official depositories, the City will be able to invest funds in these institutions, not exceeding the federal insurance of $100,000. Recommended Motion: It is recommended that the City Council adopt the attached resolutions designating official depositories, with the understanding that the City could not invest in any of the depositories beyond the level of insurance coverage of the pledged collateral. Basis of Recommendation: 1. The City is required by Minnesota Statute 475.66 and 118.005, to designate as a depository of funds, insured banks or thrift institutions as defined in Section 518.01, Subdivision 3, Minnesota State Statutes. Any collateral so deposited is accompanied by an assignment pledged to the City in the amount specified in the attached resolutions. 2. The City has worked with the institutions recommended in the past and has found to have a good working relationship with these institutions. 0 Alternative Recommendation: The City Council could solicit other financial institutions for official depositories, but past relationships with the depositories recommended have proven satisfactory for the City. Discussion/Decision Mode: Action of the City Council is desirable at the January 4, 1993, city council meeting so that the City may invest funds in the approved financial institutions for the year 1993 immediately. Respec ully submitted, Jam D. Prosser City Manager JDP:cak 0 0 • RESOLUTION NO. RESOLUTION DESIGNATING THE RICHFIELD BANK AND TRUST COMPANY A DEPOSITORY OF FUNDS OF THE CITY OF RICHFIELD FOR THE YEAR 1993 AND APPROVING COLLATERAL BE IT RESOLVED by the City Council of the City of Richfield as follows: That, in accordance with Minnesota Statues, Section 475.66 and 118.005, the Richfield Bank and Trust Company be, and hereby is designated a depository of the funds of the City of Richfield, subject to modification and revocation at any time by said City, and subject to the following terms and conditions: The said depository shall not be required to give bon ds or other securities for such deposits provided that the total stun thereof shall not at any time exceed in any depository the stun s for which its deposits are irislwed under the Acts of Congress of the United States relating to insu rance of bank deposits; but that in case such deposits in any such depository shall at any time exceed such insured st un, said depository shall immediately furnish bonds or other security for suc h excess acco rding to law, approved by the City Council of said City. That said depository shall pay on demand all deposits therein; and shall pay all time deposits, at or after the end of the period for which the same shall be deposited, on demand. • BE IT FURZE RESOLVED, that there shall be maintained a general account in which shall be deposited all monies from golf course operations and not otherwise specifically provided for. Checks on this account shall be signed by the following officers or their facsimile signatures: JAMES D. PROSSER, CITY MANAGER STEVEN L. DEVICH, TREASURER BE IT FLIRT E R RESOLVED, that there shall be a daily interest savings account. All withdrawals from said account will be for transfers to the general checking account. BE IT FURTHER RESOLVED, that collateral in the amount $1,000,000, is deposited for safekeeping at the Federal Reserve Bank of Minneapolis, is hereby approved. Passed by the City Council of the City of Richfield this 4th day of January, 1993. Martin J. Kirsch Mayor ATTEST: 0 Thomas P. Ferber City Clerk RESOLUTION NO. RESOLUTION DESIGMTING THE FIRSTAR BANK-RICHFIELD A DEPOSITORY OF FUNDS OF THE CITY OF RICHFIELD FOR THE YEAR 1993 AND APPROVING COLLATERAL BE IT RESOLVED by the City Council of the City of Richfield as follows: That, in accordance with Minnesota Statues, Section 475.66 and 118.005, the Firstar Bank-Richfield be, and hereby is designated a depository of the funds of the City of Richfield, subject to modification and revocation at any time by said City, and subject to the following terms and conditions: The said depository shall not be required to give bonds or other securities for such deposits provided that the total sum thereof shall not at any time exceed in any depository the sums for which its deposits are insured under the Acts of Congress of the United States relating to insurance of bank deposits; but not in case such deposits in any such depository shall at any time exceed such insured sum, said depository shall immediately furnish bonds or other security for such excess according to law, approved by the City Council of said City. That said depository shall pay on demand all deposits therein; and shall pay all time deposits, at or after the end of the period for which the same shall be deposited, on demand. BE IT FURTHER RESOLVED, that there shall be maintained a general account in which shall be • deposited all monies from liquor, swimairlg pool/ice arena operations and city permits. Checks on this account shall be signed by the following officers or their facsimile signatures: JAMES D. PROSSER, CITY MANAGER STEVEN L. DEVICH, TREASURER BE IT FURTHER RESOLVED, that theme shall be maintained a city payroll account. Theme shall be issued a single check biweekly for an amount equal to the biweekly city payroll, payable to the Tre asurer for deposits in such payroll account. Thereafter, the Treasurer is authorized to issue payroll checks on said accounts for all wage s or salaries included in said biweekly payroll. _ BE IT FURTHER RESOLVED, that there shall be a daily interest bearing checking account. All interest earned shall be transferred to the Investment Trust Fund. BE IT FURTHER RESOLVED, that collateral in the amount $1, 000, 000, is deposited for for safekeeping at the Firstar Bank -. Milwaukee, Wisconsin is hereby approved. Passed by the City Council of the City of Richfield this 4th day of January 1993. Martin J. Kirsch Mayor ATTEST: 0 Thomas P. Ferber City Clerk RESOLUTION NO. • RESOLUTION DESIGNATING NORWEST BANK MUO ESOM, NA A DEPOSITORY FOR THE INVESTMENTS OF CITY FUNDS IN 1993 AMID APPROVING COLLATERAL wmaMS, pursuant to Minnesota Statutes, Sections 475.66 and 118.005, municipal funds may be deposited in any savings and loan association which has its deposits insured by the Federal Savings and Loan Insurance Corporation (FSLIC); and WHEREAS, the amount of said deposits may not exceed FSLIC insurance covering such deposits, which insurance presently amounts to $100,000, unless amounts in excess of such insurance coverage is covered by additional collateral pledged to the City; and k1UH AS, the deposit of City funds in savings and loan associations and banks would provide greater flexibility in the City's investment program and maximize interest income thereon; and WHEREAS, there shall be maintained a daily interest general checking account in which shall be deposited all monies for the city licenses. Checks on this account shall be signed by the following officers or their facsimile signatures: JAMES D. PROSSER, CITY MANAGER STEVEN L. DEVICH, TREASURER • NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Richfield, Minnesota, as follows: 1. That Norwest Bank Minnesota, NA, 6445 Nicollet, Richfield, Minnesota be designated as official depository for City funds in 1993. Passed by the City Council of the City of Richfield, this 4th day of January, 1993. Martin J. Kirsch Mayor ATTEST: Thomas P. Ferber City Clerk E RESOILITION NO. • A RESOLUTION DESIGNATING TWIN CITY FEDERAL SAVINGS AND LOAN AS A DEPOSITORY FOR THE INVESTMENT OF CITY FUNDS IN 1993 AND APPROVING COLLATERAL. WEBS, pursuant to Minnesota Statutes, Section 475.66 and 118.005, municipal funds may be deposited in any savings and loan association which has its deposits insured by the Federal Savings and Loan insurance corporation (FSLIC); and kMUMS, the amount of said deposits may not exceed FSLIC insurance covering such deposits, which insurance presently amounts to $100,000, unless amount is excess of such insurance coverage is covered by additional collateral pledged to the City; and kingUMS, the deposit of City funds in savings and loan associations and banks would provide greater flexibility in the City's investment program and maximize interest income thereon. NOW, TORE, BE IT RESOLVED by the City Council of the City of Richfield, Minnesota, as follows: 1. That Twin City Federal Savings and Loan, Marquette at 8th Street, Minneapolis, Minnesota, be designated as an official depository for City funds for 1993. . Passed by the City Council of the City of Richfield, this 4th day of January, 1993. ATTEST: Thomas P. Ferber City Clerk Martin J. Kirsch Mayor E RESOLUTION NO. A RESOLUTION DESIGNATING CERTAIN SAVINGS AND LOAN ASSOCIATION'S AND BANKS AS DEPOSITORIES FOR THE INVESTMENT OF CITY FUNDS IN 1993 BE IT RESOLVED by the City Council of the City of Richfield, Minnesota WMUMS, pursuant to Minnesota Statutes, Section 475.66 and 118.005, municipal funds may be deposited in any Savings and Loan Association or Bank which has its deposits insured by the Federal Savings and Loan Insurance Corporation (FSLIC) or the Federal Deposit Insurance Corporation (FDIC); and SEAS, the amount of said deposits may not exceed the FSLIC/FDIC insurance covering such deposits which insurance amount is presently $100,000; and SEAS, the deposit of City funds in Savings and Loan Associations and Banks would provide greater flexibility in the City's investment program and maximize interest income -thereon. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Richfield, Minnesota, as follows: 1. It is hereby found and determined that it is in the best interests of the proper management of City funds that various Savings and Loan Associations and Banks be designated as additional depositories for City funds for 1993. 2. It is further found and determined that the purpose of such depository designation is to facilitate the proper and advantageous investments of City funds and that such designation is not exclusive nor does it preclude the deposit of any City funds in other officially designated depositories of the City. 3. The Treasurer and Finance Manager are hereby authorized to deposit City funds in various depositories up to the amount of $100,000, or such other amount as may be subsequently permitted by law, such deposits to be in the form of demand accounts for Public Unit Savings certificates purchased by the City, payable to the City of Richfield on the signatures of the city Treasurer or Finance Manager. Such deposits may be made and withdrawn from time to time by the Treasurer or Finance Manager as his/her best judgement and the interests of the City dictates. 4. The investment of funds and the reporting thereof pursuant to this resolution shall be conducted in accordance with established policies of the City regarding the investment of City funds. 5. The following investment firms are being used to service depositories outside the metropolitan area. Adams-Van Dyke 2932B Wanamaker Drive Topeka, Kansas 66614 First American Investment Group 3601 West 29th, Suite 120 Topeka, Kansas 66604 Kansas National Investments 5845 Southwest 29th Topeka, Kansas 66614 U.S. Sterling Capital Corp. 20 Peachtree Holbrook, New York 11741 Financial Northeastern Securities 100 Passaic Avenue Fairfield, New Jersey 07004 Passed by the City Council of the City of Richfield this 4th day of January, 1993. ATTEST: Martin J. Kirsch Mayor Thomas P. Ferber City Clerk • CITY OF RICHFIELD, MINNESOTA Council Letter No. 1 Agenda January,4, 1993 Issue Statement: Designation of official newspaper for 1993. Background: The Richfield Sun-Current, published by Minnesota Sun Publications, has been the City's official newspaper for many years. Attached is a copy of a letter from Minnesota Sun Publications requesting that they be designated the official newspaper for the City of Richfield for 1993. Recommended Motion: Designate the Richfield Sun-Current as the official newspaper for the City of Richfield for the year 1993. Basis for Recommendation: 1. The paper has served well as the official newspaper for several years. 2. The paper has expressed a desire to continue to provide this service. 3. The newspaper is in close proximity to City offices if it is necessary to hand deliver legal notices before publication deadlines. 4. The paper is delivered to each residence in the City, thereby providing City-wide coverage of legal notices to residents. 5. The cost for legal publications is reasonable. Alternative Recommendation: 1. Not make a designation and request the City Clerk's office to check into using another publication, such as the Minneapolis Star Tribune. Discussion/Decision Mode: The City publishes legal notices on a frequent basis, therefore, this item has been placed on the January 4, 1993 City Council agenda so that a designation can be made for 1993. Respectfu ly submitted, Jame Prosser City nager JDP:cak SUN PUBLICATIONS Sun•Current Sun•Post Sun•Sailor December 11, 1992 Mr. Tom Ferber City of Richfield 6700 Portland Avenue South Richfield, MN 55423 Dear Mr. Ferber: Please consider the Sun-Current as the city of Richfield's official newspaper for the year 1993 at your January organizational meeting. The rate structure for legals effective January 1, 1993 will be: 1 column width: $0.72 per line first insertion ($7.92 per inch) $0.42 per line - subsequent insertions ($4.62 per inch) 2 column width: $1.44 per line - first insertion ($15.84 per inch) $0.84 per line - subsequent insertions ($9.24 per inch) Notarized affidavits on each of your publications will be provided. Minnesota Sun Publications will accept legal notices on diskettes. Your IBM or compatible personal computer makes it easy for you to submit legal notices produced with WordPerfect, Wordstar or MS Word word-processing programs. Files saved in ASCII are also acceptable. As this represents as cost-effective and efficient method for us to produce the copy for publication, we will offer a 15% rate discount on all notices submitted on diskettes. We recommend that other municipal departments coordinate their legal notice publishing needs with the city clerk's office as well. All legal ads should be sent to our Bloomington office by Thursday noon preceding our Wednesday publications. In order to expedite our service to you, please direct your legals to the attention of Mendel Hedblom, Minnesota Sun Publications, 7831 East Bush Lake Road, Bloomington, MN 55439. For your convenience our fax number is 896-4754. Thank you for considering the Sun-Current as your official newspaper for the ensuing year. We are honored and pleased to serve you and look forward to a mutually beneficial working relationship with the city of Richfield. Sincerely, Donald W. Thurlow Bloomington Office: 7831 East Bush Lake Road • Bloomington, MN 55439 • Ph: (612) 896-4700