07-26Resolution No. 2007-26
City of Otsego
County of Wright
State of Minnesota
A Resolution Establishing Depositories for City Funds.
WHEREAS, the City of Otsego each year must stipulate official depositories for City
Funds. The depositories were approved by Resolution No. 2007-01, January 8, 2007
Now, therefore, be it resolved by the City Council of Otsego, Minnesota.
1. That the following additional official depository for City Funds be added to those
previously approve:
Premier Bank, Albertville, MN
2. Collateral is required for funds that are not directly invested in investment securities
that are insured by the Federal Deposit Insurance Corporation or other United States
Government Agencies. Investments shall be in accordance with investment securities
allowable under the State of Minnesota guidelines for municipalities and the City's
investment policy. The City Treasurer shall deposit all or any part of the City's funds into
the approved depositories and withdraw the same when necessary, or when directed by the
City Council.
Approved this 23rd day of April, 2007
City of Otsego
Larry urnier, Mayor
"A8 Ju y dson, City Clerk