Resolution - 15-01 - Naming Official DepositoriesIck
CITY OF SPRING PARK
SPRING PARK, MINNESOTA
• RESOLUTION 15-01
NAMING OFFICIAL DEPOSITORIES
BE IT RESOLVED by the City Council of the City of Spring Park that the Wells Fargo Bank of
Minnesota, Mound; First Minnesota Bank, Mound; and First Minnesota Bank, Mayer, are hereby
appointed the official depositories for the funds of the City of Spring Park retroactive to January
1, 2015.
BE IT FURTHER RESOLVED that the Wells Fargo Bank of Minnesota, Mound; First Minnesota
Bank, Mound; and First Minnesota Bank, Mayer, are 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
46ritten 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 5th DAY OF
JANUARY . 2015.
APPROVED:
7 t
CE WI L AMSON
MAYOR
ATTEST:
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WENDY LOWIN
CITY CLERK