09/23/2014 Resolutions 2014-305 RESOLUTION 2014-305
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 of approved 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,thecitytreasurermaypurchasecertificatesof
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 securityofthe 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.
WHEREAS,in Section 16-715,R.R.S. 1943,In lieu of the bond required by section 16-
714, any bank, capital stock financial institution, or qualifying mutual financial institution making
application to become a depository may give security as provided in the Public Funds Deposit Security
Act to the city clerk.
NOW,THEREFORE,BE IT RESOLVED BY THE MAYOR AND COUNCIL OF
THE CITY OF GRAND ISLAND,NEBRASKA,that
1. Wells Fargo Bank,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 Federal/Grand Island; The Equitable
Building and Loan Association; First National Bank of Omaha; Five Points;
Bank of New York Mellon; Cornerstone Bank; Exchange Bank; Bank of the
West; and Heritage 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 ofthe 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 of the
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
Approved as to Form 0
September 22,2014 tt City f' .rney
from the above named banks and capital stock financial institutions selected as
depositories.
5. The Finance Director or his/her designee is hereby authorized by the mayor to
require he 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.
Adopted by the City Council of the City of Grand Island, Nebraska, September 23, 2014.
ay avric;k, Mayor
Attest:
Polk _ • 11
RaNae Edwards, City Clerk
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