03/04/2003 Resolutions 2003-63
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RES 0 L UTI 0 N 2003-63
WHEREAS, 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 or her as city treasurer; and
WHEREAS, Section 16-713, RRS. 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.
WHEREAS, Section 16-714, RRS. 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.
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND COUNCIL OF
THE CITY OF GRAND ISLAND, NEBRASKA, that:
1.
Wells Fargo; U. S. Bank; United Nebraska Bank; Union Bank and Trust Co.; Five
Points Bank of Grand Island; Bank One Trust Co. N.A.; Cornerstone Bank; Bank of
Doniphan; Heritage Bank; Nebraska Public Agency Investment Trust (NP AIT); The
Principal Financial Group; KPM Investment Management, Inc.; Ameritas Life
Insurance Corp.; ICMA Retirement Corp.; A.G. Edwards & Sons, Inc.; Ameritas
Investment Corp.; Home Federal/Grand Island; the Equitable Building and Loan
Association; and Platte Valley State Bank & Trust Company 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 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 Compact for the Apprehension of Narcotics and Drug Offenders (CANDO); the
High Intensity Drug Trafficking Area (HIDT A), the Tri-City Task Force, the Grand
Island Community Redevelopment Authority (CRA); and the Grand IslandlHall
County Health Department.
4.
The Finance Director or his/her designee is hereby authorized to purchase certificates
of deposit, treasury notes, treasury bills, treasury bonds, and or strips from the above
named banks and capital stock financial institutions selected as depositories.
Approved as to Form J:l
February 27. 2003 l:t City Attorney
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5.
The Finance Director or his/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.
Adopted by the City Council of the City of Grand Island, Nebraska, March 4,2003.
Qcf\~ CfUL{)Qt"\~
RaNae Edwards, City Clerk
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Approved as to Form l:l
February 27. 2003 l:l City Attorney