Resolution - 19-01 - Naming Official DepositoryCITY OF SPRING PARK
SPRING PARK, MINNESOTA
RESOLUTION 19-01
NAMING OFFICIAL DEPOSITORY
BE IT RESOLVED by the City Council of the City of Spring Park that Wells Fargo Bank of
Minnesota, Mound is hereby appointed the official depository for the funds of the City of Spring
Park retroactive to January 1, 2019.
BE IT FURTHER RESOLVED that Wells Fargo Bank of Minnesota, Mound, is hereby directed
to honor and pay any checks or orders when signed by the Mayor and City Clerk or their duly
appointed alternates as indicated on signature card duly executed and previously transmitted to said
depository for the withdrawal or transfer of funds on deposit in said bank in whatever form.
BE IT FURTHER RESOLVED that in case such deposits shall at any time exceed Two Hundred
and Fifty Thousand ($250,000) dollars, said depository shall immediately furnish bond or securities
in lieu of bond as collateral according to law.
BE IT FURTHER RESOLVED that said bank shall be entitled to rely upon this resolution until
written notice of modification or revision has been furnished to and received by said bank.
ADOPTED by the City Council of the City of Spring Park this 7th day of January, 2019.
Approved
e rome P. Rocvam, Mayor
Attest:
Th sa Schyma, Ci Clerk