84-6853R78
RESOLUTION :YO. 6853
RESOLUTION DE5IGVA?'ING T"ii.E RIC:~iFIELD BANK ~ TRUST COMP.4,?1Y
A DESPOSI'IORY OF FUNDS OF T~iE CITY OF RIC:-iFIELD FOR T:iE YE:~R
1984 AIVD APPROVI~tG COLLA2ERAL
B$ IT RESOLVED by the Ci*_y Council of the City of Richfield as follows:
That, in accordance with Iaw, the Richfield Bank & Trust Company be and
hereby is designated a depository of the funds of the City of Richfield, subject
to modification and revaeation 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 o_f bank deposits; but that in
case such deposits in any such depository shall at any tine exceed such insured
sum, said depository shall immediately furnish bonds or other security for such
excess according to Iaw, approved by the City Council of said City.
That said depository shall pay on demand aII deposits therein; and shall
paq 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 alI monies from golf course operations and not otherwise
specifeally crovided for. Checks on this account shall be signed by the following
officers or their facsimile signatures:
JOHN. G. CARTWRIGHT, CITY MANAGER
RONALD S. RANKIN, TREASURER
BE IT FURTHER RESOLVE, that there shall be a .daily interest savings
account. All withdrawals from said account will be for transfers to the general
checking account.
I O S'3j ~~ S
BE TT FURTHER RESOLVED, that collateral in the amount of $9°~~_T- deposited
for safekeeping at the Federal Reserve Bank of ~.inneapolis, is Hereby approved.
Passed by the City Council of the City of Richfield this 3rd day of
January, 1984.
ATTEST:
S y ~a t. Bergh Ci Cy r'~c
78A
RESOLUTION N0. 6853-A
RESOLUTION DESIGNATING DIRECTOR AND ALTERNATE
DIRECTOR TO SUBURBAN RATE AUTHORITY
BE IT RESOLVED by the City Council of the City of Richfield, Minnesota,
as follows:
MARTIN A. KIRSCH is hereby•designated as a Director of the Suburban
Rate Authority, and DONALD HASSENSTAB is hereby designated to serve as Alternate
Director of the Suburban Rate Authority for the year 1984 and until their
successors are appointed.
Passed by the City Council of the City of Richfield, Minnesota, this
3rd day of January, 1984.