12/07/2010 Resolutions 2010-338RESOLUTION 2010-338
WHEREAS, in Section 16-712, R.R.S. 1943, the city treasurer shall deposit, and at all
times keep on deposit, for safekeeping, in banks or capital stock financial institutions ofapproved and
responsible standing all money collected, received or held by him/her as city treasurer; and
WHEREAS, in Section 16-713, R.R.S.1943, the city treasurer may purchase
certificates of deposit from and make time deposits in banks or capital stock financial institutions
selected as depositories of city funds; and
WHEREAS, in Section 16-714 R.R.S. 1943, for the security of the fund so deposited,
the city treasurer shall require each depository to give bond for the safekeeping and payment of such
deposits and the accretions thereof, which bond shall run to the city and be approved by the mayor.
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND COUNCIL OF
THE CITY OF GRAND ISLAND, NEBRASKA, that
1. Wells Fargo Bank Nebraska, N.A.; Great Western Bank; USbank, Union
Bank and Trust Co.; Nebraska Public Agency Investment Trust (NPAIT);
Smith Hayes Financial Services Corporation; ICMA Retirement Corp.; A.G.
Edwards & Sons, Inc.; Ameritas Investment Corp.; Home FederaUGrand
Island; The Equitable Building and Loan Association; Platte Valley State
Bank & Trust Company; Five Points; Bank ofNew York Mellon; Cornerstone
Bank; and Exchange Bank be and hereby are, designated and approved as
depositories for all money collected, received or held by the City of Grand
Island, Nebraska.
2. The Finance Director or his/her designee, in his/her official capacity of the
office, is directed and authorized to deposit such funds in said banks and
capital stock financial institutions.
3. This authorization shall include the deposits of public funds in the hands ofthe
Finance Director or his/her designee belonging to the City of Grand Island,
Nebraska; the Tri-City Task Force; and the Grand Island Community
Redevelopment Authority (CRA).
4. The Finance Director or his/her designee is hereby authorized to purchase
certificates of deposit, treasury notes, treasury bills, treasury bond and or
strips from the above named banks and capital stock financial institutions
selected as depositories.
5. The Finance Director orhis/her designee is hereby authorized by the mayor to
require the depositories designated by this resolution to give security for the
safekeeping and payment of City deposits and the accretion thereof, such
security to be in the form and amounts as required by Nebraska statute and
the Public Funds Deposit Security Act.
Approved as to Form Q
December 6, 2010 ~ City Attorney
Adopted by the City Council of the City of Grand Island, Nebraska, December 7, 2010.
Attest:
~a~ ~~~
RaNae Edwards, City Clerk
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