HomeMy Public PortalAbout2023-008 Resolution Naming Official DepositoriesRESOLUTION 2023-008
RESOLUTION NAMING OFFICIAL DEPOSITORIES
WHEREAS, the City of Riverdale, Iowa ("City") is a municipal corporation, organized and operating under
the laws of the State of Iowa; and,
WHEREAS, the City is required by the Code of Iowa to list financial institutions that will be depositories
for the City; and,
WHEREAS, Council wishes to name Quad City Bank & Trust, along with IPAIT, as official depositories of
the City and to limit the maximum balance in each account to $2,000,000.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF RIVERDALE, IOWA,
THAT:
Section 1. Quad City Bank & Trust, along with IPAIT, are approved as the financial institutions and
depositories for the City in accordance with all applicable provisions of chapters 452 and
453 of the State of Iowa Code.
Section 2.
The Clerk, Deputy Clerk, Mayor, and Mayor Pro Tem are authorized to deposit City funds in
an amount not to exceed the maximum approved for each respective financial institution
as follows:
Depository name Maximum balance in effect under this resolution
Quad City tank & Trust $2,000,000
IPAIT $2,000,000
Section 3. All resolutions or parts of resolutions in conflict with this resolution are hereby repealed
and replaced with this resolution.
CERTIFICATION:
1 hereby certify that the foregoing is a true and correct copy of the resolution of Council adopted at a
meeting of said public body, duly called and held on the 10th day of January 2023, a quorum being
present, as said resolution remains of record in the minutes of said meeting, and it is now in full force
and effect.
Passed and approved this 10th day of January 2023.
APPROVED:
Anthony Heddlesten, Mayor
ATTEST:
Virx
Kelly Krell
Cle
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City of Riverdale, Iowa
110 Manor Drive, Riverdale, Iowa 52722 1 (563) 355-2511 1 www.riverdaleiowa.com