HomeMy WebLinkAboutResolution No. 008-17 (c) - Investment Authorization
RESOLUTION
BE IT RESOLVED by the Common Council of the City of Rochester that the City authorizes
any officer or other person hereinafter named: (a) to open or continue an account with US Bank
Rochester or Wells Fargo Bank Rochester; (b) to execute and deliver to these financial institutions
a signature card containing a specimen signature of officers or other persons hereinafter named;
(c) to consent to the financial institution’s rules and regulations governing bank accounts; and (d)
to endorse and to deposit in such account checks, drafts, and other instruments and funds payable
to or held by the City for the term beginning on January 1, 2017, and ending on December 31,
2017.
BE IT FURTHER RESOLVED that the Common Council authorizes the City’s Treasurer
and his/her designee to make investments of funds pursuant to Minnesota Statutes, Section
118A.01 through 118A.06 or other applicable law, and the City’s investment policy duly adopted
and amended by the Common Council, for the term beginning on January 1, 2017, and ending on
December 31, 2017.
BE IT FURTHER RESOLVED that the Common Council designates that all checks, drafts,
and other withdrawal orders against the City’s general account shall bear the facsimile signature of
Ardell F. Brede, Mayor of the City of Rochester, and Dale R. Martinson, Treasurer of the City of
Rochester, and designates that any and all other directions and instructions concerning the
handling of City funds may be signed by any one of the following:
Dale R. Martinson, Treasurer/Director of Finance
Cary McNallan, Assistant Finance Director
Rachel Houdek, Principal Financial Analyst
Katie Mosher, General Accountant (payroll only)
BE IT FURTHER RESOLVED that the Common Council designates that all checks, drafts,
and other withdrawal orders against Rochester Public Utilities account shall bear the facsimile
signature of Ardell F. Brede, Mayor of the City of Rochester, and Mark Kotschevar, General
Manager of Rochester Public Utilities, and also designates that any and all other directions and
instructions concerning the handling of Rochester Public Utilities funds may be signed by any one
of the following:
Mark Kotschevar, General Manager – Utilities or designated replacement
Peter Hogan, Director of Corporate Services
Brian J. Blom, Manager of Finance and Accounting
Tina M. Livingston, General Accountant
Judith E. Anderson, Senior Financial Analyst
BE IT FURTHER RESOLVED that the financial institutions shall be entitled to rely upon a
certified copy of this resolution unless they receive written notice of modification or rescission.
PASSED AND ADOPTED BY THE COMMON COUNCIL OF THE CITY OF
ROCHESTER, MINNESOTA, THIS __________ DAY OF _______________, 2017.
___________________________________
PRESIDENT OF SAID COMMON COUNCIL
ATTEST: __________________________
CITY CLERK
APPROVED THIS _____ DAY OF ______________________, 2017.
________________________________
MAYOR OF SAID CITY
(Seal of the City of
Rochester, Minnesota)
Res15\\Adopt\\Deposit17c