RES 14-78CITY OF OTSEGO
COUNTY OF WRIGHT
STATE OF MINNESOTA
RESOLUTION NO: 2014-78
RESOLUTION ESTABLISHING AN INVESTMENT POLICY
WHEREAS, the prudent management of the City's financial affairs requires that certain policies
be adopted and followed to insure proper and transparent management of those activities; and
WHEREAS, the investment of idle cash is a process that should be controlled by policy
provisions that are followed in a consistent manner; and
WHEREAS, City Council action is required in order to establish or amend such policies.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
OTSEGO, WRIGHT COUNTY, MINNESOTA THAT:
the City of Otsego Investment Policy dated November 6, 2014 is hereby approved and the
Finance Department is hereby instructed to begin the process of retaining a Trustee for holding
investments on the City's behalf.
ADOPTED by the Otsego City Council this 24th day of November, 2014.
MOTION made by Council Member Heidner and SECONDED by Council Member Schroeder.
IN FAVOR: Stockamp, Heidner, Schroeder, Warehime, Darkenwald
OPPOSED: None
CITY OF OTSEGO
Jessica Stockamp, Mayor
ATTEST:
Tami Lo , City CLerk