HomeMy Public PortalAboutResolution #2017-24, Officially Naming Depositories For The City Of Rivedale, Iowa RESOLUTION NO.2017-24
RESOLUTION OFFICIALLY NAMING DEPOSITORIES FOR THE CITY OF
RIVERDALE,IOWA
WHERAS the City of Riverdale is required by the State Code of Iowa to list financial institutions that
will be depositories for the City.
THEREFORE BE IT RESOLVED that the City Council of the City of Riverdale approves the
following list of financial institutions to be depositories of the City of Riverdale funds in accordance will
all applicable provisions of Chapters 452 and 453 of the State of Iowa Code.
BE IT FURTHER RESOLVED that the City Clerk,Assistant City Clerk, City Administrator. or Mayor
are authorized to deposit City of Riverdale funds in an amount not to exceed the maximum approved for
each respective financial institution as set out below.
BE IT FINALLY RESOLVED that all Resolutions or parts of Resolutions in conflict with this
Resolution are hereby repealed.
Depository Name Maximum balance in effect under this resolution
Quad City Bank&Trust $2,000,000
IPAIT $2,000,000
Wells Fargo Bank $2,000,000
U.S. Bank $2,000,000
IH Mississippi Valley Credit Union $ 250,000
University of Iowa Community Credit Union $ 250.000
RIA Federal Credit Union $ 250,000
Ascentra Credit Union $ 250,000
ROLL CALL VOTE: Aye Nay Absent
Channon X
Hupp X
Seaberg X _
Littrel X
Halsey X
CERTIFICATION, I hereby certify that the foregoing is a true and corrected copy of a Resolution of the
City of Riverdale adopted at a meeting of said public body, duly called and held on the 8th day of August,
2017, a quorum being present, as said resolution remains of record in the minutes of said meeting, and
it is now and in full force and effect.
Passed and approved this 8th day of August 2017.
Sonya=lock, Mayor Ronald E. Fullerlove, City Clerk/Treasurer