HomeMy WebLinkAboutEDA January 6, 1998
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Regular City Council Meeting - Tuesday, January 6, 1998
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CITY of ANDOVER
Call to Order
Resident Forum
Agenda Approval
Consent Agenda
Approval of Minutes
EDA Meetine:
Approve Official Depositories & Banks
OmanizationaI Items
I. Approve Official Depositories & Banks
2. Approve Official Newspaper
3. Appoint Acting Mayor
4, Appoint Standing Committees
Discussion Items
5. Amend Comprehensive Plan/Land Use Planl26XX - 138th Ave NW/Erickson, Continued
6. Rezoning/26XX - 138th Ave NW/Erickson, Continued
7. Public Hearing/Vacate Easements/The FarmsteadlPresbyterian Homes
8. Approve Final PlatfThe Farmstead
) 9. Hearing(Continued)/Private KenneUI7900 Uplander St. NW/Eugene Olson
10. Updat~ of Winslow Hills 4th Addition
II. Discuss Anoka County 5-year Highway Improvement Plan
12. Schedule Planning Workshop
13. Amend Ordinance No. IIO/Regulating Therapeutic Massage
14. Noise Ordinance No. 230/Pov's Sports Bar
IS. Set Date for Review of Administrator
Staff. Committees. Commissions
16. Schedule Interviews/Park & Recreation Commission
17. Appoint ChairmanlPai-k & Recreation Commission
18. Discuss Adult Softbail Tournament Application Form
Non-Discussion/Consent Items
19. Approve 1997 Fund Reservations
20. Approve Utility Billing Contract
21. Approve Final Payment/95-14/Crooked Lake Blvd. NW
22. Approve Final Payment/97-38/0Id Is Gold/I4056 Raven Street NW
23. Approve Final Plat/Chesterton Commons 2nd Addition
24. Accept Petitionl97-50/SS & WM/l43 14 Crosstown Blvd.NW
25, Approve Feasibility Report/97-50/SS & WM/I43 14 Crosstown Blvd. NW
26. Approve 1998 Park Capital Improvement Budget
27. Approve Resolutionll998 User FeesIField and Rink Use
28. Update ofLRRWMO Watershed Management Plan
Mayor/Council Input
, Payment of Claims
/ Adjournment
agenda
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CITY OF ANDOVER
REQUEST FOR COUNCIL ACTION
DATE: lanuary 6. 1998
AGENDA SECTION
ORIGINATING DEPARTMENT
EDA Meeting
Finance \...~~'0'
Jean D. McGann,'--'
ITEM NO.
Approve Official Depositories and Banks
Request:
The Economic Development Authority Board is requested to adopt the attached resolution designating
the Official Depositories, supplemental depositories of investments and empowering the City Finance
Director with the approval authority for the investment and collateral transactions. The Board is also
requested to empower the City Treasurer with the authority to deposit, transfer or disburse funds as
approved by the Board,
"\ Background:
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The attached resolution is similar to the resolution approved by the Andover City Council each year for
the safeguarding and management of City funds, The separation of the T.I.F, fund transactions and any
other EDA financial transactions from regular City business will be accomplished through the enactment
of this resolution,
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ECONOMIC DEVELOPMENT AUTHORITY
IN AND FOR THE
CITY OF ANDOVER
COUNTY OF ANOKA
RES. NO EDA- -98
A RESOLUTION DESIGNATING DEPOSITORIES OF ECONOMIC
DEVELOPMENT AUTHORITY FUNDS AND SUPPLEMENTAL
DEPOSITORIES OF ECONOMIC DEVELOPMENT AUTHORITY FUNDS FOR
INVESTMENT PURPOSES ONLY.
WHEREAS, Minnesota Statutes, Section 118 sets forth the procedures for the
deposit 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 the
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
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 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 deposit with authorized institutions,
Adopted by the Andover Economic Development Authority Board of
Commissioners the 6th day of January, 1998.
ATTEST:
J. E. McKelvey - President
Michael Knight - Secretary