RES 1959-002 - 00012928RESOLUTION NO. 2 - 1959
RESOLUTION DESIGNATING
DEPOSITORIES OF CITY FUNDS.
BE IT RESOLVED, by the Council of the
City of Fridley, County of Anoka, State of Minnesota, as
follows:
Section 1. That it is deemed to be in the best
INTERests of the City of Fridley that all monies
in the various funds held by the Treasurer of the
City of Fridley be deposited by the Treasurer in
and held on deposit during the year 1959 to the
to the credit of the City in the following named
banks and depositories as provided by law:
(a) All monies in the Municipal Liquor Dispensary
fund shall be deposited in the Camden North-
western State Bank of Minneapolis.
(b) All monies in the Public Utilities Fund shall
be deposited in the Fidelity State Bank of
Minneapolis.
(c) All monies in the General Fund, Special Assess-
ment Fund, P.E.R.A. Fund, Debt Service Fund,
Firemens' Relief Fund and Recreation Fund shall
be deposited in the Columbia Heights State Bank.
(d) All monies in the Trust Fund and any Miscellaneous
fund shall be deposited in the Central Northwestern
National Bank of Minneapolis.
Section 2. The deposits of City monies in each of said
funds shall be made by the Treasurer in accordance with
and in compliance with law, and in particular under
the provisions and requirements of Minnesota Statutes,
Chapter 118 and Chapter 427.
Section 3. Each of said depositories shall upon notice
of such designation and upon receipt of any monies of
the City comply with and furnish to the City of Fridley
proof of compliance with the requirements of Minnesota
law and in particular the provisions and requirements
of 1957 Minnesota Statutes Chapter 118 and Chapter 427.
Section 4. Should any depository as herein named fail'
to comply as provided above upon receipt of notice of ,
such designation , or fail to .furnish the City proof
of such compliance as provided by law at any time that
any monies or funds of the City are held by such
depository during the year 1959, then the City Treasurer
shall immediately withdraw from such depository any
such money or funds held on deposit in such depository
and give notice thereof to the City Council; and the
RESOLUTION NO. 2 - 1959 Continued.
City Treasurer shall himself provide for their
immediate safe - keeping in manner as appears in
his best discretion to the interest of the City;
and the Treasurer shall thereafter redeposit
said monies in such depositories as the City
Council may thereafter designate.
Section 5. All monies in each of the funds of
the City shall be held by said despositories
to the Credit of the City in accordance with
law, and subject at all times to such conditions
and orders as the Council may from time to time
impose during the year 1959.
PASSED AND ADOPTED THIS 12TH DAY OF JANUARY, 1959
by the city council.
ATTEST:
CITY CLERK - Marvin C. Brunsell
WAMON
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