84-6903R:i /
RESOLUTION N0. 6903
RESOLUTION DESIGNATING THE MINNESOTA FEDERAL SAVINGS & LOAN
ASSOCIATION A DEPOSITORY OF THE CITY OF RICHFIELD THE YEAR
1984 AND APPROVING COLLATERAL
BE IT RESOLVED by t'ne City Council of the City of Richfield
as follows:
That, in accordance with law, the Minnesota Federal Savings
and Loan Association 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 ar
other securites for such deposits provided that the total sum
thereof shall not at any time exceed in any depository the sum
for which its desposits 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
theein;.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
daily interest general account in which shall be desposited all
monies from city licenses. Checks on this account shall be
signed by the following officers or theri facsimile signatures:
JOHN G. CARTWRIGHT, CITY MANAGER
RONALD S. RANKIN, TREASURER
BE IT FURTHER RESOLVED that collateral in the amount of
$104,395.07deposited for safekeeping at the Firs National Bank of
St. Paul..
Passed by the City Council of~e Ci~~~f Richfield this 9th
day of July, 1984.
ohn ij~r~Yilton, ;Mayor
ATTEST:
yl~ra ~. i~ergn~i;iLy
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EXTRACT OF MINUTES OF MEETING
OF THE CITY COUNCIL OF THE
CITY OF RICHFIELD,
HEiv~?v~EPINT COUNTY, MINNESOTA
Pursuant to due call and notice thereof d special meeting of the City
,- •,
Council of the City of Richfield, Minnesota, was held at City Hall in Richfield,
Minnesota on Monday, July 16, 1984, commencing at 7 o'clock p.m.
The following members were present:
Hamilton, Bunco, Ludeman, Kirsch and Priebe
and the following were absent:
None
The following resolution was presented by Councilmember
Bunce who moved its adoption:
RESOLUTION NO 6904
RESOLUTION RELATING TO A CO`~fERCIAL
DEVELOPMENT REVENUE BOND PROJECT
ZN THE LYN'DALE-HUB-NICOLLET PROJECT AREA
(GODFATHER BLOCK)
BE IT P.ESOLVED By the City Council of the City of Richfield, 'linnesota, as
follows:
1. This Council by Resolution No. 6581, adopted February 16, 1982, gave
preliminary approval to a project under the Minnesota Municipal Industrial
Develop~^ent Act, Mirn. Stat. Chapter 474 on behalf of ?~'ew Age Developers.
Satisfactory development agreements have been reach with the developer and the
application for the project has been submitted to the rinnesota Energy and
Economic Development Authority.
2. The Council hereby reaffirms its approval of the project by Resolution
No. 6581 and declares its present intent to issue revenue bends or other obliga-
tions to fir;an.ce the project prior to January 1, 1985.
3. The Council further states its intention to ccmply with, and to
?-eauire the developer to comply with the provisions or Minn. Stat. Secticn
47:.01, Subdivision 11 relating to the emplo~-nent of the ece.:o::icall_v
disadvantaged.
The motion for the adoption a,f the foregoing resolution was duly seconded
by Councilmember Priebe ~' and upon vote being taken thereon, the
following voted in favor: Bunce, ludeman, Kirsch and Priebe
and the following voted against:
Hamilton absent
whereupon said resolution was declared duly passed and adoptede this 16th day
of July, 1984. ,'
ATTEST:
'~,
Sy K. Berg City C rk