Resolution - 17-01 - Naming Official DepositoryCITY OF SPRING PARK
SPRING PARK, MINNESOTA
RESOLUTION 17-01
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, 2017.
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 3rd
DAY OF JANUARY 2017.
APP
ATTEST:
-44U44911- 4duo-)"�
THFUESA SCHYMA, bTY CLERK
ME R ROCKVAM, MAYOR