HomeMy Public PortalAbout2010-067 Resolution Designating Institution for Investment of Cities Idle FundsMember Smith introduced the following resolution and moved its adoption:
CITY OF MEDINA
RESOLUTION NO.2010-67
RESOLUTION DESIGNATING 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
institutions be designated for investing Medina's idle funds:
Lake Community Bank
1964 West Wayzata Boulevard
Long lake, MN 55356
Dated: October 19, 2010.
ATTEST:
z/-4 (A71, 4-4044,
Chad M. Adams, City Administrator -Clerk
i. �
T.M. Crosby, Jr., Ma
The motion for the adoption of the foregoing resolution was duly seconded by member Weir and upon
vote being taken thereon, the following voted in favor thereof:
Crosby, Smith, Weir, Siitari
And the following voted against same: (Absent: Johnson)
None
Whereupon said resolution was declared duly passed and adopted.
Resolution No. 2010-67
October 19, 2010