HomeMy WebLinkAbout89-2 - ADMIN Resolution - Economic Development Authority - 1989/05/01May 1, 1989
RESOLUTION NO. EDA -2
RESOLUTION DESIGNATING DEPOSITORY FOR
ECONOMIC DEVELOPMENT AUTHORITY FUNDS
BE IT RESOLVED by the Economic Development Authority of the City of St. Louis
Park that Marquette Bank of Minneapolis, be hereby designated as a depository
for the funds of the Economic Development Authority and the maximum amount of
such deposits to be kept therein at any one time is not to exceed $9 million.
BE IT FURTHER RESOLVED that Marquette Bank of Minneapolis deposit with the
Federal Reserve Bank of Minneapolis, as security for such deposits, those
securities as may be required to safeguard the deposits of the City in the
manner and amounts required by law.
Adopted by the Economic Development Authority, May1, 1 89
President
Executive Director