HomeMy WebLinkAboutApril 5, 1994
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¡- "\ (~ CITY of ANDOVER
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ANDOVER ECONOMIC DEVELOPMENT AUTHORITY MEETING
APRIL 5, 1994 - MINUTES
A Meeting of the Andover Economic Development Authority was called to
order by Mayor Jack McKelvey on April 5, 1994, 9:50 p.m., at the Andover
City Hall, 1685 Crosstown Boulevard NW, Andover, Minnesota.
Present: Councilmembers Dalien, Jacobson, Knight, Perry
Absent: None
Also present: City Attorney, William G. Hawkins
Casserly Molzahn, Inc. , Jim Casserly
City Administrator, Richard Fursman
Others
APPROVE RESOLUTION APPOINTING OFFICERS/ADOPT BYLAWS
Mr. Casserly explained the duties of the officers on the Board of
Commissioners of the EDA. It was agreed the following would be
appointed:
(-"1 President Mayor Jack McKelvey
-'-..J Vice President Councilmember Don Jacobson
Secretary Councilmember Mike Knight
Treasurer Councilmember Larry Dalien
Assistant Treasurer Councilmember Marge Perry
MOTION by Perry, Seconded by Knight, that Jack McKelvey be appointed
President, Don Jacobson Vice President, Mike Knight Secretary, Larry
Dalien Treasurer, and Marge Perry Assistant Treasurer. Motion carried
unanimously.
MOTION by Knight, Seconded by Perry, the Resolution appointing all
officers and adopting the by-laws. (See Resolution R063-94) Motion
carried unanimously.
APPROVE RESOLUTION ACCEPTING TIF DISTRICTS BY EDA
MOTION by Jacobson, Seconded by Dalien, the Resolution, Item No. 17,
accepting control, authority, and operation of the Development District
and its Tax Increment Financing Districts by the Andover Economic
Development Authority from the City of Andover as presented. (See
Resolution R064-94) Motion carried unanimously.
,"-' "\, MOTION by Knight, Seconded by Perry, to adjourn. Motion carried
" ---j unanimously. The meeting adjourned at 10:04 p.m.
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Mar ella A. P~, kecoräing Secretary
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'-.-/ ECONOMIC DEVELOPMENT AUTHORITY
IN AND FOR THE
CITY OF ANDOVER
COUNTY OF ANOKA
RES. NO EDA -01-98
A RESOLUTION DESIGNATING DEPOSITORIES OF ECONOMIC
DEVELOPMENT AUTHORITY FUNDS AND SUPPLEMENT
DEPOSITORIES OF ECONOMIC DEVELOPMENT AUTHORITY FUNDS FOR
INVESTMENT PURPOSES ONLY.
WHEREAS, Minnesota statues, Section 118 sets forth the procedures for the
deposits of public funds which include requiring the Economic Development Authority
Board to annually designate the official depositories for Economic Development
Authority funds and manage the collateral pledged to such funds; and
WHEREAS, other financial institutions are, from time to time, able to pay
Economic Development Authority Board 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 I
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I , Investment Services Inc.; Juran and Moody, Division of Miller, Johnson and Kuehn, Inc.;
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Prudential Securities, Inc.; Dain Bosworth Inc.; Dean Witter Reynolds Inc.; Piper Jaffray
Inc.; Smith Barney Shearson Inc.; Paine Webber Inc.; and Investment Emporium in
conjunction with Royal Alliance Associates, Inc. be designated as additional depositories
for 1998 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 deposits with authorized institutions.
Adopted by the Andover Economic Development Authority Board of
Commissioners the 6th day of January, 1998.
ATTEST:
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J.E. McKelvey-President
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