Res 2004- 09 Investment ResolutionCity of Mendota Heights
Dakota County, Minnesota
Resolution No. 04- 09
INVESTMENT RESOLUTION
NOW THEREFORE BE IT RESOLVED by the City Council of the City of Mendota Heights,
that any of the officers of this municipality designated below:
Mayor, City Administrator, Finance Director, City Clerk
is /are authorized, on behalf of and in the name of this municipality, (a) to direct, orally or in
writing or electronically or through any other medium agreed to by said officer(s) and the
Corporate Treasury Division of U.S. Bank N.A. ( "Treasury "), the opening of an investment
account and the investment of municipal funds in securities and /or time deposits with and /or
through Treasury through such account; (b) to execute, on behalf of the municipality, contracts
or agreements in connection with such investment account in the usual form provided by
Treasury for such accounts generally; (c) to receive in respect of said Investment account
confirmations, receipts, notices, demands, reports, and communications of any kind; (d) to
receive in respect of said investment account money, securities, time deposits, and property of
every kind, and to dispose of same; (e) to endorse and deliver for deposit, negotiation, transfer,
pledge, or sale, and to identify or guarantee signatures or endorsements on, notes, certificates of
deposit, checks, and securities of all kinds, either belonging to or coming into the possession of
the municipality; and (f) to authorize, orally or in writing or through any other medium agreed to
by said officer(s) and Treasury, the debiting and /or crediting by Treasury of this municipality's
deposit account(s) at any financial institution for the purpose of effecting such transaction.
BE IT FURTHER RESOLVED, that the City Cleric is authorized and directed to certify to
Treasury the foregoing resolutions and that the provisions thereof are in conformity with the
Articles and Bylaws of this municipality and to certify to Treasury the names of the persons now
holding the offices referred to above and any changes hereafter in the persons holding said
offices together with specimens of the signature of such present and future officers.
BE IT FURTHER RESOLVED, that the authority granted to the officers of this municipality
shall continue in full force and effect, and Treasury may rely thereon in dealing with such
officers, unless and until written notice of any change in or revocation of such authority shall be
delivered to Treasury by an officer of this municipality, and any action taken by said officers and
relied on by Treasury pursuant to the authority granted herein to its receipt of such written notice
shall be fully and conclusively binding on this municipality.
BE IT FURTHER RESOLVED, that the actions of any officer of this municipality heretofore
taken in opening an investment account with Treasury and in the investment of municipality
funds through such account, be, and the same hereby are in all respects, ratified, confirmed, and
approved.
BE IT FURTHER RESOLVED, that all prior resolutions of this mtriicipality authorizing the
opening of an investment account with Treasury and the investment of municipality funds
through such account, be, and the same hereby are, rescinded and superseded as to all such
transactions with respect thereto effected after the date of adoption of these resolutions.
Adopted by the City Council of the City of Mendota Heights this 201h day of January, 2004.
ATTEST:
Kathleen M. Swanson
City Clerk
City Council
CERTIFICATE
I hereby certify that I am the duly elected, qualified and acting Clerk of the City of Mendota
Heights, Minnesota and the custodian of the records of the City of Mendota Heights, Minnesota,
1 a municipality organized and existing and in good standing under the laws of the State of
Minnesota. I further certify that set forth below are the true titles, names and genuine signatures
of the duly elected or appointed, qualified and acting officers of the mlmicipality presently
holding such offices who are authorized Linder the foregoing resolutions:
May
City
11
John J. Huber
James E. Danielson
Kristen Schabacker
City Clerics .�% ��`` ' , Kathleen M. Swanson
Signed and sealed by my hand this 20th day of January, 2004.
(SEAL)
Kathleen M. Swanson
City Clerk