Resolution No. 2024-108, Adding UBS Financial Services, Inc. as an Official Depository for the City of Fridley
Resolution No. 2024 - 108
Adding UBS Financial Services, Inc. as an Official Depository for the City of Fridley
Whereas, pursuant to Minnesota Statute (M.S.) § 427.02 and M.S. 118A, the City of Fridley (City) must
designate financial entities where the City will deposit its finances; and
Whereas, pursuant to the Administration of City Affairs Chapter of the Fridley City Charter, the City
Manager and City Treasurer must direct duties in connection with keeping of public funds; and
Whereas, UBS has been a trusted financial partner of the City as an Investment Advisor; and
Whereas, the City Treasurer recommends the City partner with UBS Financial Services Inc. as one of
its official depositories.
Now therefore, be it resolved, that the City Council of the City of Fridley hereby confirms, makes
or extends the following appointments.
Official Depositories*
Institution Authorization Term Expires Authority
Wells Fargo Bank, Walter T. Wysopal, City Manager Indefinite M.S. § 427.02;
N.A. and all of its Joseph A. Starks, Finance Director Indefinite M.S. § 118A;
branches and Korrie Johnson, Assistant Finance Indefinite Charter § 6.04
subsidiaries Director
U.S. Bank, NA and Walter T. Wysopal, City Manager Indefinite M.S. § 427.02;
all of its branches Joseph A. Starks, Finance Director Indefinite M.S. § 118A;
and subsidiaries Korrie Johnson, Assistant Finance Indefinite Charter § 6.04
Director
UBS Financial Walter T. Wysopal, City Manager Indefinite M.S. § 427.02;
Services, Inc. and Joseph A. Starks, Finance Director Indefinite M.S. § 118A;
all of its branches Korrie Johnson, Assistant Finance Indefinite Charter § 6.04
and subsidiaries Director
*The City Manager, Director of Finance/City Treasurer, or Assistant Finance Director will have the
authority to transfer funds from one official depository to another for the purpose of investing and
satisfying claims against City funds. The City delegates authority to make Electronic Funds Transfers
to the Finance Director or their designee.
Passed and adopted by the City Council of the City of Fridley this 12th day of August, 2024.
________________________________________
Scott J. Lund – Mayor
Attest:
___________________________________________
Melissa Moore – City Clerk