HomeMy Public PortalAbout2008-025 Resolution Designating Additional InstitutionMember Smith introduced the following resolution and moved its adoption:
CITY OF MEDINA
RESOLUTION NO. 2008-25
RESOLUTION DESIGNATING AN ADDITIONAL INSTITUTION
FOR INVESTMENT OF THE CITY'S IDLE FUNDS
WHEREAS, the following institutions meet all of the requirements set forth in Minnesota
State Statutes, and;
WHEREAS, diversifying the institutions where the City invests ensures the City will receive
the best return on its investments,
NOW, THEREFORE, BE IT RESOLVED by the City Council of Medina that the following
institution be designated as an additional institution for investing Medina's idle funds:
21 st Century Bank
699 N. Medina Street
Loretto, MN 55357
Dated: May 20, 2008
T. M. Crosby, Jr., Mayor
ATTEST:
Chad M. Adams, City Administrator -Clerk
The motion for the adoption of the foregoing resolution was duly seconded by member Weir upon vote
being taken thereon, the following voted in favor thereof:
Crosby, Smith, Weir, Johnson, Cavanaugh
and the following voted against same:
None
Whereupon said resolution was declared duly passed and adopted.
Resolution No. 2008-25
May 20, 2008