HomeMy WebLinkAboutRESOLUTION NO. 2006-50 RESOLUTION NO.
RESOLUTION TO APPROVE NAMING DEPOSITORIES
WHEREAS, Iowa Code 2003: Section 12C.2 requires that the approval of a
financial institution as a depository of public funds for a public body shall be by written
resolution or order that shall be entered of record in the minutes of the approving board
and that shall distinctly name each depository approved and specify the maximum
amount that may be kept on deposit in each depository; and
WHEREAS, The City's auditor recommends the naming of depositories on an
annual basis; and
BE IT RESOLVED, That the City Council of Fairfax in Linn County, Iowa,
approves the following list of financial institutions to be depositories of the City of
Fairfax funds in conformance with all applicable provisions of Iowa Code Chapter 12.
The City Clerk and Finance Administrator are hereby authorized to deposit the City of
Fairfax funds in amounts not to exceed the maximum approved for each respective
financial institution as set out below.
NAME OF DEPOSITORY LOCATION OFFICE MAXIMUM
DEPOSIT
Fairfax State Savings Bank. Fairfax,IA $6,000,000
NOW, THEREFORE, BE IT RESOLVED, By the City Council of the City of
Fairfax., Iowa that the Mayor and the City Clerk are hereby authorized and directed to
execute said Resolution.
Passed and approved this day of , 2006.
Qj
AYE: '
NAY:
ABSENT:
Bill Voss, Mayor
AT ST:
Connie Frame, City Clerk
CERTIFICATION. I hereby certify that the foregoing is a true and correct copy of a
resolution of the Fairfax City Council a pted a a meeting of said public body, duly called
and held on the day of , a quorum being present, as said
resolution remains of record in thmin es of s ' meeting, and it is now in full force and
effect.
Dated this day of , 2006.
('dt)
Connie Frame, City Clerk