HomeMy WebLinkAbout89-6 - ADMIN Resolution - Economic Development Authority - 1989/05/01MICROFILMED
May 1, 1989
RESOLUTION NO. EDA -6
RESOLUTION DESIGNATING DEPOSITORY FOR
ECONOMIC DEVELOPMENT AUTHORITY FUNDS
BE IT RESOLVED by the Economic Development Authority of the City of St. Louis
Park that Dain Bosworth Inc. 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 $5
million.
BE IT FURTHER RESOLVED that Dain Bosworth Inc, of St. Louis Park deposit with
the Federal Reserve Bank of New York City, 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
0/ Presnt
Executive Director