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ECONOMIC DEVELOPMENT AUTHORITY
IN AND FOR THE
CITY OF ANDOVER
) COUNTY OF ANOKA
RES. NO EDA-001-97
A RESOLUTION DESIGNATING DEPOSITORIES OF CITY FUNDS AND
SUPPLEMENTAL DEPOSITORIES OF CITY FUNDS FOR INVESTMENT
PURPOSES ONLY.
WHEREAS, Minnesota Statutes, Section 118 sets forth the procedures for the
deposit of public funds which include requiring the Andover City Council to annually
designate the official depositories for City funds and manage the collateral pledged to
such funds; and
WHEREAS, other financial institutions are, from time to time, able to pay the
City of Andover interest rates on deposits which are greater than can be obtained from the
official depositories.
NOW, THEREFORE, BE IT RESOLVED that Norwest Investment Services
Inc.: the Minnesota Municipal Money Market Fund; Firstar Trust Co. of Minnesota; FBS
Investment Services Inc.; Juran and Moody, Division of Miller, Johnson and Kuehn, Inc.;
Prudential Securities, Inc.; Dain Bosworth Inc.; Dean Witter Reynolds Inc.; Piper Jaffray
/ Inc.; Smith Barney Shearson Inc.; PaineWebber Inc.; and Investment Emporium in
conjunction with Royal Alliance Associates, Inc. be designated as additional depositories
for 1997 for investment and cash management purposes only.
BE IT STILL FURTHER RESOLVED that the Finance Director of the City of
Andover is hereby authorized to place investments, transfer funds between said
investment institutions, release disbursements prepared by the City Treasurer and
approved by the Board and is designated to approve the release and acceptance of all
collateral to be held in conjunction with funds on deposit with authorized institutions.
Adopted by the Andover Economic Development Authority Board of
Commissioners the 7th day of January, 1997.
ATTEST:
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Miéhael Knight - Seireta
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"\ ANDOVER ECONOMIC DEVELOPMENT AUTHORITY
" ) COUNTY OF ANOKA
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STATE OF MINNESOTA
RES. NO. ED A - 005-97
A RESOLUTION AMENDING THE BYLAWS OF THE ANDOVER
ECONOMIC DEVELOPMENT AUTHORITY
BE IT RESOLVED by the Board of Commissioners (the "Commissioners") of
the Andover Economic Development Authority (the "EDA"), as follows:
The Bylaws of the Andover Economic Development Authority (the "Bylaws")
shall be amended as follows:
Section 3.3 Quorum. A quorum of the 4i¥e-seven member Board shall consist of
three-four Commissioners. In the absence of a quorum, no official action may be
taken by, on oehalf of, or in the name of the Board or the Authority.
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I Section 3.4 Adoption of Resolutions. Resolutions of the Board shall be deemed
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adopted if approved by not less than tbree-four Commissioners. Resolutions may
but need not be read aloud prior to vote taken thereof.
Adopted by the Economic Development Authority of the City of Andover
on this 16th day of September . 1997.
CITY OF ANDOVER
ATTEST
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ANDOVER ECONOMIC DEVELOPMENT AUTHORITY
'~.__ I COUNTY OF ANOKA
STATE OF MINNESOTA
RES. NO. EDA - 006-97
A RESOLUTION APPOINTING OFFICERS FOR THE ECONOMIC
DEVELOPMENT AUTHORITY.
BE IT RESOLVED by the Board of Commissioners (the "Commissio;}ers") of
the Andover Economic Development Authority (the "EDA"), as follows:
1. Appointment of Officers. In accordance with Minnesota Statutes, Section
469.090, the Board hereby appoints to the following offices of the EDA the
following persons, respectively:
President Jack McKelvey
Vice President Ken Orttel
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Secretary l\1ike K.'light
Treasurer Bonnie Dehn
Assistant Treasurer John Kunza
Adopted by the City Council of the City of Andover on this 16th day
of September , 1997.
CITY OF ANDOVER
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ATTEST .E. McKelvey, President
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