HomeMy WebLinkAbout89-4 - ADMIN Resolution - Economic Development Authority - 1989/05/0101C„OF') lED
May 1, 1989
RESOLUTION NO. EDA -4
RESOLUTION DESIGNATING DEPOSITORY FOR
ECONOMIC DEVELOPMENT AUTHORITY FUNDS
BE IT RESOLVED by the Economic Development Authority of the City of St. Louis
Park that Citizens State Bank of St. Louis Park, 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 $5
million.
BE IT FURTHER RESOLVED that Citizens State Bank of St. Louis Park deposit with
the First 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, May 1, 1989
President
Executiv�tor