01/28/2025 Resolutions 2025-12 (2) RESOLUTION 2025-12
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 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.
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; First Interstate Bank;
US Bank; Union Bank and Trust Co.; Nebraska Public Agency Investment
Trust (NPAIT); ICMA Retirement Corp.; A.G. Edwards & Sons, Inc.;
Ameritas Investment Corp.; Home Federal Bank; Equitable Bank; First
National Bank of Omaha; Five Points Bank; Cornerstone Bank; Exchange
Bank; Heritage Bank; D.A. Davidson and Co.; BOK Financial Corp.;
Pinnacle Bank; and BMO 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 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 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 t h e 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, January 28, 2025.
Ro G. Steele, Mayor
Attest:
J' Granere, City Clerk
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