HomeMy WebLinkAbout16-040CITY OF LAKEVILLE
RESOLUTION NO. 16-40
RESOLUTION APPOINTING DEPOSITORIES FOR THE CITY OF LAKEVILLE
WHEREAS, Minnesota Statute § 118A.02, subd. 1 requires the City Council to designate each
depository of public funds or authorize the city treasurer to designate depositories of the funds;
and
WHEREAS, all deposits of public funds will be insured or secured in accordance with Minnesota
Statute § 118A.03.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Lakeville,
Minnesota as follows:
1. The Mayor and Treasurer are hereby authorized to execute any required documents with
depositories named below, including signature cards and agreements.
2. Well Fargo Bank N.A. will be the primary depository of the City.
3. The following institutions are hereby named additional depositories subject to legal
compliance with maximum deposit and collateral requirements:
Affinity Plus Federal Credit Union
Anchor Bank
Bank of the West
BBVA Compass Bank
BMO Harris
Bremer Bank
Citizens Bank
Commerce Bank
Guaranty Bank
Klein Bank
Lakeview Bank
M & I Bank
Merchants Bank
Minnesota Municipal Money Market Fund (4M Fund)
Morgan Stanley
New Market Bank
Norwest Bank
Provincial Bank
RBC Capital Markets
Sterling State Bank
Stifel, Nicolaus & Company
Twin City Federal
US Bancorp Piper Jaffray
US Bank
Wells Fargo Bank, N.A.
Wells Fargo Securities
ADOPTED by the Lakeville City Council this 4th day of April, 2016
Matt tittle, Mayor
Charlene Friedg es, City rk