1993-46636
HRA RESOLUTION N0. 466
RESOLUTION DESIGNATING THE FIRSTAR BANK A DEPOSITORY
OF FUNDS OF THE HOUSING AND REDEVELOPMENT AUTHORITY FOR
RICHFIELD FOR THE YEAR 1993 AND APPROVING COLLATERAL
BE IT RESOLVED by the Housing and Redevelopment Authority of
Richfield as follows:
That, in accordance with law, the Firstar Bank be, and hereby
is designated a depository of the funds of the Housing and
Redevelopment Authority, 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 sum
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 Housing and Redevelopment Authority of Richfield.
That said depository shall pay on demand all deposits there;
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. Checks
on this account shall be signed by the following officers or
their facsimile signatures.
Thomas E. Harms, Chairman
James D. Prosser, Executive Director
BE IT FURTHER 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 the collateral in the amount of
$1,000,000 deposited for safekeeping at the Firstar Bank,
Milwaukee, Wisconsin is hereby approved.
Passed by the Housing and Redevelo ment Authority of Richfield
this 19th day of January, 1993. ~~~
~~~~1 ~
Thomas E. Harms, Chairperson
ATTEST:
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Larr~r 4dazn zk Secretary