Res 2019-01 Official DepositoriesRESOLUTION NO. 2019 — 01
RESOLUTION DESIGNATING OFFICIAL DEPOSITORIES FOR THE CITY OF
FRIDLEY FOR CALENDAR YEAR 2019
WHEREAS, Minnesota Statute § 427.02 and 118A require statutory and home rule municipalities
to designate official depositories on at least an annual basis; and
WHEREAS, the City of Fridley, Minnesota (City) must maintain business relationships with
various financial institutions to support City activities.
NOW, THEREFORE, BE IT RESOLVED, that Wells Fargo Bank, N.A. and all of its branches and
subsidiaries are hereby designated as the official depository for the funds of the City for 2019.
BE IT FURTHER RESOLVED, that any financial institution may be used as a depository for
investment purposes so long as the investments comply with authorized investments as set forth in
Minnesota Statute § 118A and Resolution No. 2018-02.
BE IT FURTHER RESOLVED, that the signatures of two of the following named City employees
are required to issue checks, drafts and/or other withdrawal orders issued against City funds from
any of the depositories:
Walter T. Wysopal, City Manager
Daniel J. Tienter, Director of Finance/City Treasurer
Korinne R. Johnson, Assistant Finance Director
BE IT FURTHER RESOLVED, that the City Manager, Director of Finance/City Treasurer, or
Assistant Finance Director shall have the authority to transfer funds from one official depository to
another for the purpose of investing and satisfying claims against City funds.
PASSED AND ADOPTED BY THE CITY COUNCIL OF THE CITY OF FRIDLEY THIS
7TH DAY OF JANUARY, 2019.
SCOTT J. LUND - MAYOR
ATTEST:
DEBRA A. SKOGEN - CITY CLERK