02-92�RIGI���:�
Council Fi1e # Da1.-�la..
Green Sheet #� \�� }
RESOLUTION
Presented By
Referred To
CITY OF SAINT PAUL, MINNESOTA
��l��
Committee: Date
�
2
Whereas, the City of Saint Pau1 has resolved that officiai surety bonds will be purchased in
accordance with Chapter 22.01 of the Administrative Code of the City of Saint Paul City
Charter, and;
4 Whereas, Minnesota State Statute 418.25, provides that when an officer or employee of any
5 city is required to fumish a fidelity or faithful performance bond, the governing body of that
6 city shall provide for the payment of the premium on such fidelity bond, and;
7 Whereas, the City of Saint Paul shall compiy with both its own Administrative Code and
8 Minnesota State Statutes, and;
9 Whereas, the Risk Management Division of the Department of Technology and Management
10 Services, normally procures, negotiates and obtains insurance or proper self-insurance as is
11 required and necessary for the City, and has in the past procured the official surety bonds of
12 the kind and amount required by Administrative Charter, then;
13 Therefore, be it resolved that the proper City officials of the Risk Management Division of the
14 Department of Technology and Management Services shall be fully authorized to procure the
15 fidelity or surety bonds of the type and dollar amount authorized by the Administrative Code
16 for this year and in all forthcoming years.
Requested by DeparYment of:
�
�-.�. �� '�0�,
Appioval Rec ended by Financial Services Directoi:
By: � ��G��'L�
Y
o �- -ga-
GREEN SHEET No 1 � 0151
��
TOTAL # OF SIGNATURE PAGES j
• .-_--.------ �-�----
Q �.,,� ❑ m.«�
❑..�,�.�.. ❑..�.,
�MYORpRLtCRY1�� ❑
(CUP ALL LOCATIONS FOR SIGNATUR�
Approval of Resolution authorizing the Risk Management Division to purchase fidelity and/or surety bonds in accordance with
Chapter 22.01 of the Administrative Code and Minnesota State Statute 418.25.
a
PUWNING COMMISSION
CIB CAMMI7'TEE
CM� SERVICE CAMMIS:
Has mic persoNfirm eeerworiced unaer a wwact tor Mis department?
VES NO
Nes mis D�� e.er Eeen a dryr emqoyee?
YES MO
DaesMis peicoM�m O�eas a sldl nat noimal�YO�� M�Y wrrent cYy empbyee'!
YE3 NQ
la thie pereorJfiim a ta'pNetl ve'MOR
YES NO
tlain all vec ancv�s an aeoa�ate slieM and attach to areen sheM
The administrative code requires approval of the fidelity/surety bond by the Council.
Compliance with Administrative Code Chapter 22, Section 22.01.
�AN 1 �r 4UQ&
, ...., _ .. ". � � �.
None.
/UAOUNT OF iFtAN3ACT10N
souncs � N!A
CR7�� k`�"�•��
COET/REVENUE BUDfiETED (CIRC�E ONE) YES NO
,�crnmNw�epe N/A
(�NM
Minnesota Statutes 2001, 418.25
Minnesota Statutes 2001. Table of Cha�ters
Table of contents for Chapter 418
418.25 Paymeat by city £or official bonds.
Subdivision 1. When an officer or employee of any
statutory or home rule charter city is required to fumish a
fidelity or £aithful performance bond, the governing body of the
city, or the board or commission to whom the officer or employee
is responsible, may provide for the payment of the premium on
the bond from city funds. In lieu of individual bonds, the
governing body, board or commission may provide for blanket
position bonds furnished by a surety company to cover any
officer or employee required to furnish a bond if a11 of the
obligations required by law, charter, or ordinance to be assumed
by the principal and the principal's sureties by an individual
bond are included in the blanket position bond.
Subd. 2. This section is supplementary to other statutory
and charter provisions and supersedes such provisions only to
the extent that they restrict or prohibit action authorized by
this section.
HIST: 1959 c 198 s 1; 1984 c 384 s 2; 1986 c 444
Copyright 2001 by the Office of Revisor of Statutes, State of Minnesota.
http://www.revisor.leg.state.mn.us/stats/418/25.htm1
Page 1 of 1
oa-v�-
12/24/2001
� Minnesota Statutes 2001, 427.02
Minnesota Statutes 2001 Table of Chapters
Table of contents for Chapter 427
427.02 Depositories.
The council of any city in this state, but not including
cities when governed under a charter adopted under and pursuant
to the Constitution of the state of Minnesota, article IV,
section 36, article XI, section 4, or article XII, section 5,
and sections 410.03 to 410.24, and all acts supplemental
thereto, in which charter the matter of designating depositories
for city funds and the protection thereof is provided for, or in
which charter it shall hereafter be provided for, shall have the
power and authority to designate or redesignate at the beginning
of each calendar year, or from time to time, the banks or other
legal depositories of any city in which the treasurer of the
city shall deposit and keep the moneys of the city, designating
in each instance the maximum amount which may at any time be
kept in any one of these depositories, which maximum amount
shall in no case exceed 25 percent of the paid-up capital and
surplus of the depository, unless the depository shall deposit
with the treasurer of the city United States government bonds to
secure the deposit of the funds of the city; and, in that event,
the amount so deposited sha11 not exceed the amount of the
United States government bonds so deposited. No depository
sha11 deposit United States government bonds which mature within
one year from the date such bonds were first considered as a
part of the bank's reserve and which reserves are required by
section 48.221. The council of each city shall, at a11 times,
designate depositories in the city, or elsewhere in the United
States, sufficient for the depository of a11 funds which are
likely to be in the hands of the treasurer of the city at any
one time and shall, so far as consistent with the best interest
of the city, designate these depositories in the city and
require from these depositories good and sufficient bonds
payable to the city in a penal sum not to exceed the amount
designated as the limit of deposit therein, and conditioned for
the safekeeping and payment of funds so deposited, or, in lieu
thereof, good and sufficient collateral as provided for by
section 118A.03
HIST: (1327) 1907 c 17 s 1; 1933 c 179; 1935 c 124 s 1; 1969 c
78 s 2; 1971 c 24 s 50; 1987 c 384 art 2 s 1; 1996 c 399 art 2 s
12; 1997 c 7 art 1 s 139; art 4 s 2
Copyright 2001 by the Office of Revisor of Statutes, State of Minnesota.
http://www.revisor.leg.state.mn.us/stats/427/02.htm1
Page 1 of 1
03-q�
12/24/2001
IVIinnesota Statutes 2001, 427.03
Page 1 of 1
aa--,a-
Minnesota Statutes 2001. Tabie of Chapters
Table of contents for Chapter 427
427.03 Duty of treasurer; exemption £rom liability.
The treasurer of each city where depositories have been
designated in accordance with sections 427.02 to 427.07 shall
keep the funds of the city as far as possible in the
depositories so designated and when so deposited the treasurer
and the sureties on the official bond of such treasurer shall be
exempt from a11 liability for the loss of any such funds so
deposited as provided in sections 427.02 to 427.07 if such loss
is caused by the failure, bankruptcy, or any other act of
default of such depository.
AIST: (1328) 1907 c 17 s 2
Copyright 2001 by the Office of Revisor of Statutes, State of Minnesota.
http:Uwww.revisorleg.state.mn.us/stats/427/03.hhn1
12/24/2001
_ vlinnesota Statutes 2001, 427.04 Page 1 of 1
Minnesota Statutes 2001 Table of Cha ters
Table of contents for Chapter 427
427.04 Failure to designate.
The failure of the council of any city to designate
depositories, as provided in sections 427.02 to 427.07 shall
not exempt or relieve the treasurer of the city or the sureties
on the [.reasurer's official bond from any liability.
xIST: (1329) 1907 c 17 s 3; 1986 c 444
Copyright 2001 by the Office of Revisor of Statutes, State of Minnesota.
p�..q�-
http://www.revisor.leg.state.mn.us/stats/427/04.html 12/24/2001
1vlinnesota Statutes 2001, 427.05
Minnesota Statutes 2001 Table of Chapters
Table of contents for Chapter 427
427.05 Duty of council; iatarest.
The council of any city authorized under sections 427.02 to
�27.07 to designate depositories shall exercise all possible
care to secure safe depositories for the funds of the city and
to obtain the highest rate of interest possible consistent with
safety for such moneys. Al1 interest received in any way for
the use or keeping of moneys or on account of the same shall be
the property of the city and credited to the current e�cpense
fund of the city.
HIST: (1330) 1907 c 17 s 4
Copyright 2001 by the Office of Revisor of Statutes, State of Minnesota.
http://www.revisorleg.state.mn.us/stats/427/OS.html
Page 1 of 1
O � -qa-
12/24/2001
`- lvlinnesota Statutes 2001, 427.06 Page 1 of 1
Minnesota Statutes Z001. Table of Chapters
Tabie of contents far Chapter 427
427.06 Moaey, how deposited; checics, how drawn.
All money of any city kept in accordance with sections
427.02 to 42?_07 in any depository designated by the council of
the city shall be kept and deposited in the name of the city and
the depository shall have no authority to pay out this money
except upon checks drawn upon the depository signed by the city
treasurer and countersigned by the city comptroller or recording
officer of the city.
HIST: (1331) 1907 c 17 s 5
Copyright 2001 by the Office of Revisor of Statutes, State of Minnesota.
b�-g�-
http://www.revisor.leg.state.mn.us/stats/427/06.htm1 12/24/2001
� ��Iinnesota Statutes 2001, 427.07 Page 1 of 1
Minnesota Statutes 2001. Table of Chapters
Table of contents for Cha�ter 427
427.07 Withdrawal of fuads.
The treasurer of any city, who has city funds deposited in
accordance with sections 427.02 to 427.07, shall, when notified
so to do by the sureties on the treasurer's official bond or by
the council of the city, withdraw all funds from any designated
depository and it shall be the duty of the city comptroller or
other recording officer of such city to countersign all checks
for such withdrawal. The city treasurer shall thereupon, upon
such withdrawal, notify the council of the city thereof and
thenceforth the city treasurer sha11 deposit no more funds in
the depository until authorized so to do by the council of the
city. Upon this withdrawal, it shall be the duty of the council
of the city to proceed forthwith to redesignate, in accordance
with the provisions of sections 427.02 to 427.07.
HIST: (1332) 1907 c 17 s 6; 1986 c 444
Copyright 2001 by the Office of Revisor of Statutes, State of Minnesota.
oa -9 a-
http://wwwsevisor.leg.state.mn.us/stats/427/07.htm1 12/24/2001
�RIGI���:�
Council Fi1e # Da1.-�la..
Green Sheet #� \�� }
RESOLUTION
Presented By
Referred To
CITY OF SAINT PAUL, MINNESOTA
��l��
Committee: Date
�
2
Whereas, the City of Saint Pau1 has resolved that officiai surety bonds will be purchased in
accordance with Chapter 22.01 of the Administrative Code of the City of Saint Paul City
Charter, and;
4 Whereas, Minnesota State Statute 418.25, provides that when an officer or employee of any
5 city is required to fumish a fidelity or faithful performance bond, the governing body of that
6 city shall provide for the payment of the premium on such fidelity bond, and;
7 Whereas, the City of Saint Paul shall compiy with both its own Administrative Code and
8 Minnesota State Statutes, and;
9 Whereas, the Risk Management Division of the Department of Technology and Management
10 Services, normally procures, negotiates and obtains insurance or proper self-insurance as is
11 required and necessary for the City, and has in the past procured the official surety bonds of
12 the kind and amount required by Administrative Charter, then;
13 Therefore, be it resolved that the proper City officials of the Risk Management Division of the
14 Department of Technology and Management Services shall be fully authorized to procure the
15 fidelity or surety bonds of the type and dollar amount authorized by the Administrative Code
16 for this year and in all forthcoming years.
Requested by DeparYment of:
�
�-.�. �� '�0�,
Appioval Rec ended by Financial Services Directoi:
By: � ��G��'L�
Y
o �- -ga-
GREEN SHEET No 1 � 0151
��
TOTAL # OF SIGNATURE PAGES j
• .-_--.------ �-�----
Q �.,,� ❑ m.«�
❑..�,�.�.. ❑..�.,
�MYORpRLtCRY1�� ❑
(CUP ALL LOCATIONS FOR SIGNATUR�
Approval of Resolution authorizing the Risk Management Division to purchase fidelity and/or surety bonds in accordance with
Chapter 22.01 of the Administrative Code and Minnesota State Statute 418.25.
a
PUWNING COMMISSION
CIB CAMMI7'TEE
CM� SERVICE CAMMIS:
Has mic persoNfirm eeerworiced unaer a wwact tor Mis department?
VES NO
Nes mis D�� e.er Eeen a dryr emqoyee?
YES MO
DaesMis peicoM�m O�eas a sldl nat noimal�YO�� M�Y wrrent cYy empbyee'!
YE3 NQ
la thie pereorJfiim a ta'pNetl ve'MOR
YES NO
tlain all vec ancv�s an aeoa�ate slieM and attach to areen sheM
The administrative code requires approval of the fidelity/surety bond by the Council.
Compliance with Administrative Code Chapter 22, Section 22.01.
�AN 1 �r 4UQ&
, ...., _ .. ". � � �.
None.
/UAOUNT OF iFtAN3ACT10N
souncs � N!A
CR7�� k`�"�•��
COET/REVENUE BUDfiETED (CIRC�E ONE) YES NO
,�crnmNw�epe N/A
(�NM
Minnesota Statutes 2001, 418.25
Minnesota Statutes 2001. Table of Cha�ters
Table of contents for Chapter 418
418.25 Paymeat by city £or official bonds.
Subdivision 1. When an officer or employee of any
statutory or home rule charter city is required to fumish a
fidelity or £aithful performance bond, the governing body of the
city, or the board or commission to whom the officer or employee
is responsible, may provide for the payment of the premium on
the bond from city funds. In lieu of individual bonds, the
governing body, board or commission may provide for blanket
position bonds furnished by a surety company to cover any
officer or employee required to furnish a bond if a11 of the
obligations required by law, charter, or ordinance to be assumed
by the principal and the principal's sureties by an individual
bond are included in the blanket position bond.
Subd. 2. This section is supplementary to other statutory
and charter provisions and supersedes such provisions only to
the extent that they restrict or prohibit action authorized by
this section.
HIST: 1959 c 198 s 1; 1984 c 384 s 2; 1986 c 444
Copyright 2001 by the Office of Revisor of Statutes, State of Minnesota.
http://www.revisor.leg.state.mn.us/stats/418/25.htm1
Page 1 of 1
oa-v�-
12/24/2001
� Minnesota Statutes 2001, 427.02
Minnesota Statutes 2001 Table of Chapters
Table of contents for Chapter 427
427.02 Depositories.
The council of any city in this state, but not including
cities when governed under a charter adopted under and pursuant
to the Constitution of the state of Minnesota, article IV,
section 36, article XI, section 4, or article XII, section 5,
and sections 410.03 to 410.24, and all acts supplemental
thereto, in which charter the matter of designating depositories
for city funds and the protection thereof is provided for, or in
which charter it shall hereafter be provided for, shall have the
power and authority to designate or redesignate at the beginning
of each calendar year, or from time to time, the banks or other
legal depositories of any city in which the treasurer of the
city shall deposit and keep the moneys of the city, designating
in each instance the maximum amount which may at any time be
kept in any one of these depositories, which maximum amount
shall in no case exceed 25 percent of the paid-up capital and
surplus of the depository, unless the depository shall deposit
with the treasurer of the city United States government bonds to
secure the deposit of the funds of the city; and, in that event,
the amount so deposited sha11 not exceed the amount of the
United States government bonds so deposited. No depository
sha11 deposit United States government bonds which mature within
one year from the date such bonds were first considered as a
part of the bank's reserve and which reserves are required by
section 48.221. The council of each city shall, at a11 times,
designate depositories in the city, or elsewhere in the United
States, sufficient for the depository of a11 funds which are
likely to be in the hands of the treasurer of the city at any
one time and shall, so far as consistent with the best interest
of the city, designate these depositories in the city and
require from these depositories good and sufficient bonds
payable to the city in a penal sum not to exceed the amount
designated as the limit of deposit therein, and conditioned for
the safekeeping and payment of funds so deposited, or, in lieu
thereof, good and sufficient collateral as provided for by
section 118A.03
HIST: (1327) 1907 c 17 s 1; 1933 c 179; 1935 c 124 s 1; 1969 c
78 s 2; 1971 c 24 s 50; 1987 c 384 art 2 s 1; 1996 c 399 art 2 s
12; 1997 c 7 art 1 s 139; art 4 s 2
Copyright 2001 by the Office of Revisor of Statutes, State of Minnesota.
http://www.revisor.leg.state.mn.us/stats/427/02.htm1
Page 1 of 1
03-q�
12/24/2001
IVIinnesota Statutes 2001, 427.03
Page 1 of 1
aa--,a-
Minnesota Statutes 2001. Tabie of Chapters
Table of contents for Chapter 427
427.03 Duty of treasurer; exemption £rom liability.
The treasurer of each city where depositories have been
designated in accordance with sections 427.02 to 427.07 shall
keep the funds of the city as far as possible in the
depositories so designated and when so deposited the treasurer
and the sureties on the official bond of such treasurer shall be
exempt from a11 liability for the loss of any such funds so
deposited as provided in sections 427.02 to 427.07 if such loss
is caused by the failure, bankruptcy, or any other act of
default of such depository.
AIST: (1328) 1907 c 17 s 2
Copyright 2001 by the Office of Revisor of Statutes, State of Minnesota.
http:Uwww.revisorleg.state.mn.us/stats/427/03.hhn1
12/24/2001
_ vlinnesota Statutes 2001, 427.04 Page 1 of 1
Minnesota Statutes 2001 Table of Cha ters
Table of contents for Chapter 427
427.04 Failure to designate.
The failure of the council of any city to designate
depositories, as provided in sections 427.02 to 427.07 shall
not exempt or relieve the treasurer of the city or the sureties
on the [.reasurer's official bond from any liability.
xIST: (1329) 1907 c 17 s 3; 1986 c 444
Copyright 2001 by the Office of Revisor of Statutes, State of Minnesota.
p�..q�-
http://www.revisor.leg.state.mn.us/stats/427/04.html 12/24/2001
1vlinnesota Statutes 2001, 427.05
Minnesota Statutes 2001 Table of Chapters
Table of contents for Chapter 427
427.05 Duty of council; iatarest.
The council of any city authorized under sections 427.02 to
�27.07 to designate depositories shall exercise all possible
care to secure safe depositories for the funds of the city and
to obtain the highest rate of interest possible consistent with
safety for such moneys. Al1 interest received in any way for
the use or keeping of moneys or on account of the same shall be
the property of the city and credited to the current e�cpense
fund of the city.
HIST: (1330) 1907 c 17 s 4
Copyright 2001 by the Office of Revisor of Statutes, State of Minnesota.
http://www.revisorleg.state.mn.us/stats/427/OS.html
Page 1 of 1
O � -qa-
12/24/2001
`- lvlinnesota Statutes 2001, 427.06 Page 1 of 1
Minnesota Statutes Z001. Table of Chapters
Tabie of contents far Chapter 427
427.06 Moaey, how deposited; checics, how drawn.
All money of any city kept in accordance with sections
427.02 to 42?_07 in any depository designated by the council of
the city shall be kept and deposited in the name of the city and
the depository shall have no authority to pay out this money
except upon checks drawn upon the depository signed by the city
treasurer and countersigned by the city comptroller or recording
officer of the city.
HIST: (1331) 1907 c 17 s 5
Copyright 2001 by the Office of Revisor of Statutes, State of Minnesota.
b�-g�-
http://www.revisor.leg.state.mn.us/stats/427/06.htm1 12/24/2001
� ��Iinnesota Statutes 2001, 427.07 Page 1 of 1
Minnesota Statutes 2001. Table of Chapters
Table of contents for Cha�ter 427
427.07 Withdrawal of fuads.
The treasurer of any city, who has city funds deposited in
accordance with sections 427.02 to 427.07, shall, when notified
so to do by the sureties on the treasurer's official bond or by
the council of the city, withdraw all funds from any designated
depository and it shall be the duty of the city comptroller or
other recording officer of such city to countersign all checks
for such withdrawal. The city treasurer shall thereupon, upon
such withdrawal, notify the council of the city thereof and
thenceforth the city treasurer sha11 deposit no more funds in
the depository until authorized so to do by the council of the
city. Upon this withdrawal, it shall be the duty of the council
of the city to proceed forthwith to redesignate, in accordance
with the provisions of sections 427.02 to 427.07.
HIST: (1332) 1907 c 17 s 6; 1986 c 444
Copyright 2001 by the Office of Revisor of Statutes, State of Minnesota.
oa -9 a-
http://wwwsevisor.leg.state.mn.us/stats/427/07.htm1 12/24/2001