HomeMy WebLinkAbout4E, Corporate Authorizations�
EN HILLS
Request for Counc�l Action
Prepared By: 5ue Iverson, Director of Finance Council Meeting Date: June 13, 2011
and Administrative Services
Corporafe Authorizations
Budgeted Amount: Actzzal Arnount: Funding Source:
N/A N/A NIA
Recommeudation:
1. Adopt Resol�.tion 2011-024, a resol�tion designating depositories and corporate
authorizations.
2. Adopt Resolution 2011-030, a resolution for transfer of funds by telephonic instructions.
�upnortin� Docuu�ents:
1. Memorand�.un dated June 13, 2011 frorn Sue Iverson.
2. Resolution 2011-024.
3. Resolutian 2011-030.
�
�i�EN�HILLS
MEMORANDUM
DATE: June 13, 2411
TO: Honorable Mayor anc� City Council
Patrick Klaers, City Administrator
FROM: Sue Iverson, Director of Finance and Administrative Service��3'"
SUBJECT: Corporate Authorization
Backgro�nd:
We are in t�ie process of checking procedures and authorizations, two resoluiions were missed in
the transition period betw�en Patrick Klaers hiring and the election of the new Mayor, David
G�raz�t. Attack�ed are the twa resolutions �which need to be adopted in order to update all the City
records.
Resoluiion 2011-029, a resolution designating depasitaries and carporate authorization.
Resolution 2011-030, a resol�tion for transfer of funds by teie�honic instructions.
By adopting these xesolutions, we will be adding Pa�rick Klaers and David Grant to the
investrr�ent accounts, ihey have already been auiharized for the checking accounts in ather
resolutions.
'��w.-
EN HI[,I,S
CITY OF ARDEN HILLS
COUNTY OF RAMSEY
STATE OF MINNESOTA
RESOLUTION No. 2011�029
RESOLUTION DESIGNATING DEPOSITORIES
AND CORPORATE AUTHOR.IZATION
BE IT RESOLVED, that U_S. Bank St. Paul, N.A. shall be the official de�os�tozy �or aI�
fiznds of the City of Arden Hii�s for the calendar year 2011; and,
BE IT FURTHER RESOLVED, that the City Treasurer shall fcom time to time, ascer�ain
tl�at adequate security as required by the laws of the State of Minnesota, is furnished by such
depository to protect the City's deposited fiulds agains� financial lass; arcd
BE IT FURTHER RESOLVED, that c�ecks of this corporation drawn an U.S. Bank St.
Paul, N. A., hereinafter called the Bank, shall be signed by any of the foilowin� o�ficers:
David Grant, Mayor; Patrick Klaers, City Administrator; Susan Zverson, Finance
DirectorlTreasurer.
BE iT FURTHER RESOLVED, thatthe City Administratar is authorized to use asignature
stamp at such time as it becomes necessary for Mayar David Grarit.
BE IT FURTHER RESOLVED, that said ha.�k is hereby authorized and directed to honar
and pay any checks so drawn as above set forth, whet�er or not s�ch checks be payabie to the order
of the foregoing persons either in t�is individual or official capacity or deposited to this individual
credit, and whether or not s�ch signatures are follor�ved by the title or offce of the person signing.
13th DAY OF 3UNE, 201.1.
David Grant, Ma�or
ATTEST:
Pa�rick Klaers, Cily Administrator
�
EN HILLS
CITY QF ARDEN HILLS
COUNTY OF RAMSEY
STATE OF MINNESOTA
RESOLUTION No. 2011-U30
RESOLUTION FOR TRANSFER OF FUNDS SY TELEPHONIC INSTRUCTI4NS
WHEREAS, U.S. Bank St. Paul, N. A. is the depository it� which funds of the City of Arden
Hilis may be deposited, and a corporate resolution with respect there#o is presentiy in eff�ct authorizing ti�e
depasit and wit�drawal of funds; and
WHER�AS, the City of Arden Hills desires to add ta and supp[ement said corporate resolution
with the following resol�tion:
NOW THEREFORE, BE IT R�SQLV�D by the City Council of the City of Arden I-�ilis,
Mir�nesota, that any one of the following persons: Patrick Klaers, City Administrator; Susa� Iverson,
Finance Director/Treasurer; David Grant, Mayor, is authorized, on be�alf of #his corporation, to give
instructions by telephone to the U.S. BANK ST PAUL, N. A., ta transfer funds ort deposit with �he bank:
a. to other accounts of #his catporat�on wit�t the bank; or
b. to ather accounts of this corporation with o#her ban�s.
The bank is authorized to act on such telephonic instructions received by it from anyot�e who
represents himself to be any of tl�e above-named persons wt�ether or not his �oice reserr►bles the
voice of such persot�.
3. The bank is authorized in its sole discretion to�refuse to hanor telephone instructions ar�d to insist
upon writ�en instr�ctions sig�ed by at�y one of the persons named in paragraph ! of this resolution.
ADOPTED SY THE CITY COUNCIL OF THE CITY OF ARDEN HILLS TH�S
13th DAY OF JUNE, 2011.
David Grant, Mayor
ATTEST:
Patrick Klaers, City Administrator