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ECONOMIC DEVELOPMENT AUTHORITY <br />CITY OF CENTERVILLE <br />Resolution # 20-____ <br />A RESOLUTION REQUESTING A SEPARATE FUND FOR EDA ACTIVITIES <br />AND DESIGNATING AN OFFICIAL DEPOSITORY <br />BE IT RESOLVED BY THE ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF <br />CENTERVILLE, MINNESOTA <br />WHEREAS, The City of Centerville currently budgets for EDA activities in the General Fund; and <br />WHEREAS, it is necessary according to Minnesota Statute 469.096 to separate the accounting activities of the <br />EDA from the General Fund into a fund solely devoted to development activities; and <br />WHEREAS, the Treasurer of the EDA is to receive and be responsible for all EDA money; and <br />WHEREAS, the EDA needs to establish a separate checking account; <br />NOW THEREFORE, BE IT RESOLVED by the Economic Development Authority of the City of <br />Centerville that: <br />1. The City Council is requested to transfer all 2020 EDA funding into a separate fund for <br />development activities along with any remaining balance from 2019 activities. <br />2. The EDA hereby designates Midwest One Bank in Centerville as its official depository. <br />3. The Treasurer and the Assistant Treasurer are authorized and directed to establish a checking <br />account in the name of the EDA and act as signers as required by EDA bylaws. <br />Passed and Adopted by the Economic Development Authority of the City of Centerville this 15th day of April, <br />2020. <br /> <br /> <br /> ________________________________________ <br /> President, Jeff Hanzal <br /> <br /> <br />_________________________________ <br />Executive Director, Mark Statz <br /> <br />