09/08/2015 Resolutions 2015-240 RESOLUTION 2015-240
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,the citytreasurermaypurchase 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 ofthe 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.; Wells Fargo Securities, LLC; 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 •r stri I s
Approved as to Form 0 ...AI
September 8,2015 a City`orney
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 8, 2015.
LA
Jerem Jens n, l ..
Attest:
RaNae Edwards, City Clerk
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