2025-04-08 Resolution 12312City of Richfield April 8, 2025
County of Hennepin
State of Minnesota
RESOLUTION NO. 12312
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Motion by: Christensen
Seconded by: Coleman-Woods
RESOLUTION DESIGNATING FIDELITY INVESTMENTS AS A DEPOSITORY
FOR THE RECEIVING AND INVESTING OF DONATED FUNDS FOR THE
CITY OF RICHFIELD FUNDS IN 2025
WHEREAS, a private individual donor has bequeathed, in their estate, the donation of
$70,000 to the City of Richfield (City) to be used for Wood Lake Nature Center; and
WHEREAS, with the passing of this individual and the administration of their estate,
the managing representatives of the donor’s estate have approached the City of Richfield
about this bequest. To receive these funds, the City of Richfield must designate Fidelity
Investments as an approved financial institution to serve as a depository of City of Richfield
funds.
WHEREAS, in January 2025, the City Council approved a resolution designating
financial institutions as the City’s official depositories for 2025; and
WHEREAS, this resolution will serve to add Fidelity Investments to that list of official
depositories of the City of Richfield.
NOW, THEREFORE, BE IT RESOLVED, the City of Richfield, Minnesota, in
accordance with Minnesota Statutes, Sections 118A.01 – 118A.06, as follows:
1.It is hereby found and determined that it is in the best interest of the proper
management of City funds that Fidelity Investments be added as an approved
depository for City funds.
2.Fidelity Investments will be added as a depository for the purposes of receiving
and investing donated funds for the City of Richfield funds is Fidelity Investments.
3.The Finance Director is hereby authorized to deposit City funds in the depository
herein designated. Such deposits may be made and withdrawn from time to time
by the Finance Director’s discretion and as the interest of the City dictates.
4.Any further administration of these funds, and the reporting thereof pursuant to
this resolution as required, shall be conducted in accordance with established
policies and applicable laws.
VOTING AYE VOTING NAY
Supple, Mary Supple, Mary
Burk, Walter Burk, Walter
Christensen, Sharon Christensen, Sharon
Coleman-Woods, Rori Coleman-Woods, Rori
Hayford Oleary, Sean Hayford Oleary, Sean
City of Richfield April 8, 2025
County of Hennepin
State of Minnesota
RESOLUTION NO. 12312
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Michelle Friedrich, City Clerk
Adopted by the City Council of the City of Richfield, Minnesota this 8th day of April, 2025.
Mary Supple, Mayor
ATTEST: