RES 2023-02 Designating Depositories and Approving Investment BrokersCITY OF OTSEGO
COUNTY OF WRIGHT
STATE OF MINNESOTA
RESOLUTION NO: 2023-02
DESIGNATING DEPOSITORIES AND APPROVING INVESTMENT BROKERS
WHEREAS, the Otsego City Council must on an annual basis designate one or more financial institutions as a
depository of City funds in accordance with Minnesota Statute §118A.02, Subdivision 1; and
WHEREAS, the Otsego City Council must on an annual basis authorize the investment brokers for the
purpose of investing public monies in accordance with the City's investment policy.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF OTSEGO, MINNESOTA:
1. That the following financial institutions are designated as depositories of City funds:
a. The Banl<of
2. That the following investment brokers are approved for the purpose of investing public monies:
a. Wells Fargo Securities, LLC
b. Oppenheimer & Co., Inc.
c. Moreton Capital Markets
d. PMA Financial Network, Inc.
ADOPTED by the Otsego City Council this 9th day of January, 2023.
MOTION BY: MOORES
SECONDED BY: DAHL
INFAVOR: STOCKAMP, DAHL, DUNLAP, MOORES
OPPOSED: NONE
CITY OF OTSEGO
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Jessica Stockamp, Mayor
ATTEST:
Audra Etzel City Clerk
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