Authorized Depository Institutions
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RESOLUTION NO. 403 -00
RESOLUTION NAMING DEPOSITORIES
RESOLVED, that the City Council of the City of Dubuque, Iowa in Dubuque County, Iowa,
approves the following list of financial institutions to be depositories of the City of Dubuque,
Iowa funds in conformance with all applicable provisions ofIowa code Chapter 453.2. The City
Treasurer is hereby authorized to deposit the City of Dubuque, Iowa funds in amounts not to
exceed the maximum approved for each respective financial institution as set out below.
Depository Name
Location of Home Office
Maximum Balance
American Trust & Savings Bank
Dubuque, Iowa $40,000,000
Dubuque, Iowa $40,000,000
Milwaukee, Wisconsin $10,000,000
Dubuque, Iowa $10,000,000
Dubuque, Iowa $10,000,000
East Dubuque, Illinois $10,000,000
Dubuque Bank & Trust Company
Firstar Bank N.A.
Dupaco Community Credit Union
Premier Bank
East Dubuque Savings Bank
CERTIFICATION. I hereby certifY that the foregoing is a true and correct copy of a resolution
of the City Council of Dubuque, Iowa adopted at a meeting of said public body, duly called and
held on the 21st
a quorum being present, as said
day of
August
, 2000
resolution remains a record in the minutes of said meeting, and it is now in full force and effect.
Dated this 21st day of August, 2000.
Terrance M. Duggan, Mayor
Jeanne F. Schneider, City Clerk
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CITY OF DUBUQUE, IOWA
MEMORANDUM
August 1 7, 2000
TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
SUBJECT: Authorized Depository Institutions
Finance Director Ken TeKippe is recommending approval of a list of Authorized
Depository Institutions.
I concur with the recommendation and respectfully request Mayor and City Council
approval.
Michael C. Van Milligen
MCVM/dd
Attachment
cc: Barry Lindahl, Corporation Counsel
Tim Moerman, Assistant City Manager
Ken TeKippe, Finance Director
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CITY OF DUBUQUE, IOWA
MEMORANDUM
TO:
Michael C. Van Milligen, City Manager
FROM:
SUBJECT:
Kenneth J. Te~~ Bire~r ,
Authorized Depository Institfti"ons ~
DATE:
August 11,2000
INTRODUCTION
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Chapter 453.2 of the Code ofIowa states that a public entity shall enter into the minutes of its
governing body, by resolution or written statement, the name of each financial institution eligible
for the deposit of public funds and the maximum amount authorized for deposit therein. This
procedure is required if a financial institution changes its name or home office location, if the
maximum amount is changed, or if a financial institution is added or deleted.
DISCUSSION
The attached depository resolution changes the home office of Firstar Bank to Milwaukee,
Wisconsin, and eliminates Mercantile Bank Midwest as a depository due to its recent merger
with Firstar. In addition, East Dubuque Savings Bank has been added as a potential depository.
EDSB recently opened a branch office in Dubuque and is currently constructing a new facility in
Dubuque.
ACTION
Please present the attached resolution to the City Council for consideration of approval. If there
are any questions on the resolution please contact me. Thank you for your assistance.
Attachment
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