[Revised 01/14/2020] Adopt Resolution #20-006 for 2020 Council Organization; Resolution #20-007 Designating Financial Institutions as Official Depositories of City Funds for 2020; Resolution #20-008 Authorizing Signatures for Financial Transactions and Resolution #20-009 Designating Bank of the West as Official Financial Institution for the City of Ramsey Banking Services for the Year of 2020

This case has been revised on January 14, 2020 after City Council Work Session Direction.

Purpose:  To adopt the annual resolution appointing Councilmembers to Committees, etc. as well as designating the City's Official Newspaper, renewing contracts with TimeSaver Off-Site Recording Secretarial, Inc. and naming the firms the City will use for Legal Services.  The purpose is to also adopt the resolutions designating financial institutions as official depositories of City funds, authorizing signatures for financial transactions, and designating Bank of the West as Official Financial Institution for the City of Ramsey Banking Services for the year 2020.

Background:  The City Council met in work session earlier this evening and discussed the organizational resolution.  Discussion was held regarding who would serve on which committee,  the  City's official newspaper designation, designation of the law firms the City will use for legal services, and the agreement with TimeSaver Off-site Recording Secretarial, Inc.  If any changes were made to the attached organization resolution, #20-006, those will be announced prior to adoption and the changes will be made prior to execution of the resolution.  Resolution #20-006 will be updated once all Coucilmembers have indicated their preference and staff distributes any remaining positions to balance out obligations.

Each year the Council must designate certain institutions as official depositories of City funds.  A list of depositories is in Resolution #20-007 Designating Financial Institutions as Official Depositories of City Funds for 2020 - which is attached.  The Council also authorizes annually two of its members, plus the City Administrator and certain members of staff to sign financial documents on behalf of the City.  Resolution #20-008 Authorizing Signatures for Financial Transactions is attached for review and adoption.  The Council also must designate an official financial institution.  Attached to this case is Resolution #20-009 Designating Bank of the West as Official Financial Institution for the City of Ramsey Banking Services for the Year of 2020.
 

N/A

Staff recommends adopting the attached resolutions.

Motion to adopt Resolution #20-006 for 2020 Council Organization

- and -

Motion to adopt Resolution #20-007 Designating Financial Institutions as Official Depositories of City Funds for 2020

- and -

Motion to adopt Resolution #20-008 Authorizing Signatures for Financial Transactions

- and -

Motion to adopt Resolution #20-009 Designating Bank of the West as Official Financial Institution for the City of Ramsey Banking Services for the Year of 2020