1994-49464
HItA RF90IiTPION NO. 494
A RF90LUrIQN DFSIGN~ITIIVC' CERTAIId SAVIIVGS AND
IA~1t~T AS90CIATIOrS AND HAN[~S AS Dga06IR~0[tIFS
FO~t ~ IlVVFSii~l'P OF ~ ~ AMID RIDEVE[+O~I~1T
AUl'HOEtITY F'[1~ID6 IId 1994
pursuatrt to Minnesota Statutes, Section 475.66 and 118.005
municipal funds may be d~osited in any Savings and Loan Association which has
its deposits insured by the Fed~esal Savings ~d Loan Insurance Corporation,
and
ir~tFAS, the amoturt of said deposits may not e~ooeed the Federal Savings
at~d Loan Insurance Corporatirn insurance co~creriryg such deposits rich
it~uryoe a~totmt is presently 5100,000, and
~mtII~S, the deposit of Housing and Redevielopnpnt Authority funds in
Savings and Loan ASSOaiatiavs.and Hanks would p~wide greater fl~rifi~iity in
the HOUSiTI J 8tY1 l.~C~l1t Allt~'l0ll'.~.ty ~ S itYVeB'~lt p~lDgrarll a[~ itlFi~'~ mf ~r~,
in't~re8t ii][70lile tY1Bte0[l.
NOW, 'IIE, 8E IT RESOLVID by the Housing and Redeve].opt~t
Authority of Richfield as follows:
1. It 3.s hereby found and determined that it is in the
best interests of the pYbper manat of Housing and
Redeveloprrnnt Authority funds that certain Savings and
Loan Associations and Hanks be designated as additional
depositor3.es far Housing and Redevelopment Authority
funds far 1994.
2. The following Savings and Loan Associatia~s and Hanks
are hereby designated as additional depositories for
Housing and Redevelogr~,nt Authority funds:
Norw~est Bank Mfirmesota, 1~-
6445 Niaollet Avexn~e South
Richfield, M~ota 55423
Richfield Hank & Trust Company
6625 Lyr~dale Ave~e South
Richfield, ~ 55423
Twin City Federal. Banking and Savings
3330 West 66th Street
Edina, Minnesota 55435
3. It is further found and determined that the purpose of
such depository designation is tD facilitate the proper
arxi advantageous irnrestment of Hausir~g and Redevelopmezit
Authority funds and that such designation is not e~c].u-
sive no~c does it prelude the deposit of any Housing and
Redevelopment Authority funds in other officially desig-
nated depositaries of the Housing and Aedevelopn~ent
Authority.
HRA Resolution No. 494
Page 2 . .
4. The ~cg~t-ive Direcbo~ and Finance Manager axle hereby
authorised tD deposit. Hous3r~g and Red~evelopt~t Authority
furx~s 3n any or all of the depositories herein designated up
to the antotn'it of 5100,000, or such other a~motmt as may be
sa~bsequently Penn3-t'bed by law, such deposits to ve 3n the farm
of derend aooamts far Public Unit Savings Oertificates
Pied by 'the Housing and Redevplopnent Authority of
Richfield, Payable to the Housing and Rede~elopnent
Authority of Richfield on the signatures of the Executive
Dix~ect~pr or Fir~anoe Manager.
Passed by the Housing and Rede~velapment tY of Richfield this
17th day of January, 1994.
Thomas E. Haxnn, C~~a3xPecc'sori
A ;
L1.yB Se
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