03-427ORIG�(�AL
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Council File # ��3 � �
Crreen Sheet # �� y � S�
RESOLUTION
CTTY OF SAINT PAUL, NIINNESOTA
Presented By
Referred To
Committee: Date:
1 WHEREAS, State law authorizes the Council of the City of Saint Paul to des a°nate depositories for city funds and
2 further authorizes the investment of public funds in time deposits subject to such limitations and requirements as
3 aze imposed by Mivnesota Statutes, Chapter 118A; and
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5 WHEREAS, The Ciry may, from time to time, initiate investment programs to promote community development,
6 such as the Socially Responsible Investment Fund; now, therefore;
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C'1`]
American Bank
Bremer Bank*
Cherokee State Bank
Liberty State Bank
TCF Bank
US Bank, NA*
Western State Bank*
Anchor Bank
Capital Bank
Highland Bank
St. Anthony Pazk Bank
University National Bank*
Wells Fargo Bank, Minnesota NA*
21 * Denotes institutions that qualify to participate in the Socially Responsible Investment Fund.
22
Yeas Nays Absmt
Benanav �
Blakey ✓
Bosham �/
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ianh �
ReM ✓
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Requested by Office of Fi Seivices
By' �r��Cf��`��
�
Apprwed by Financial Services
By: � �
Form Apprwed by City Attomey
Adopted by CouncIl: Date � '1 0 o BY
Adoption Certified by Council Secretary
Ag
By : �.,.�--or�-�--
�',
Apprwed by r: Date � c�-
BY /l
BE TT RESOLVED, That the following banks be and are hereby designated by the Council of the City of Saint Paul
as depositories for city funds and investment programs, and the proper officers of the Office of Finance and
Management Services, Treasury Section, are hereby authorized to deposit and invest city funds in accordance
with the limitations and requirements of Minnesota Statutes, Chapter 118A:
for
Departmenf/office/council: Date Green Sheet �No 114056 Q'3 •� a
Office of Financial Seivices 4/18L03.
Contact Person 8 Phone: �nitiaudaee initiaueate
Barb Maynazd 68$34 � 1���,�;r 4 ctyc����l
Must Be on Council qqenda by (Date) ��9� ? City Attomey -- ��'3�� _ Ciry C]erk
Number F���� S�' �-- FinancialServ/AC
for 3 Mayor (or Asst) Civil Service Coimnission
Routing — ��' _ HumanRight
Order
�'S 4'h'�e,-.ML. 4;;:p'��.
Total # of Signature Pages 1 (Clip AII Locations for Signature) r .�,.
' ;v� � v 4v;.
Action Requested: �-'�
Designate banks to be used as depositories for city funds and investment pmgrams in compliance with Mivuesota
Statutes, Chapter 118A.
, Recommendations: Approve (A) or Reject B) Personal Service Contrects Must Answer the Following Questions:
- 1. Has this personffirtn ever worked under a contract for this department?
� Planning Commission Yes No �
� CIB Committee 2. Has this personffirm ever been a city employee?
,. Civil Service Commission Yes No ' .
3. Does this person/firm possess a skill not normally passessed by any current city
` � employee? Yes No �
F�cplain all yes answers on sepacate sheet and attach to green sheet
� Initiating Problem, Issue, OppoRunity (Who, What, When, Where, Why): ,
The current resolution on file to designate banks is outdated due to bank mergers. This resolution updates the
names of a11 the banks that the City uses as depositories. Additional language has been added to include
- designating banks for invesiment programs, such as the Socially Responsible Inveshnent Progratn.
= ; Advanfages[fApproved:
Designation of banks will be current and in cornpliance with state law.
, � DisadvantageslfApproved: NOriO. ,
� � DisadvanWges If Not Approved:
Treasury will be operating under an outdated resolution which designates banks that may no longer be in existence,
: and banks will not be designated for investment programs.
Total Amount of Trensaction: $ CosURevenue Budgeted:
, Funding Source: Activity Number:
� � Financial Information: (6cplain) �
�. , G:4Shared\TreasurylBankldesignaiedres.wpd