Authorized Depository Institutions
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RESOLUTION NO. 585-00
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 of Iowa 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 Bank & Trust Company Dubuque, Iowa $40,000,000
Firstar Bank N.A. Milwaukee, Wisconsin $10,000,000
. Dupaco Community Credit Union Dubuque, Iowa $10,000,000
Premier Bank Dubuque, Iowa $10,000,000
East Dubuque Savings Bank East Dubuque, Illinois $10,000,000
Liberty Bank Des Moines, Iowa $10,000,000
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 4th day of December
2000 a quorum being present, as said resolution
remains a record in the minutes of said meeting, and it is now in full force and effect.
Dated this 4th day of December 2000
Terrance M. Duggan, Mayor
Attest:
Jeanne Schneider
City Clerk
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CITY OF DUBUQUE, IOWA
MEMORANDUM
November 29,2000
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 that Liberty Bank be added as a potential
depository of public funds.
I concur with the recommendation and respectfully request Mayor and City Council approval.
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Michael C. Van Milligen
MCVM/jh
Attachment
cc: Barry Lindahl, Corporation Counsel
Tim Moerman, Assistant City Manager
Kenneth J. TeKippe, Finance Director
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CITY OF DUBUQUE, IOWA
MEMORANDUM
TO: Michael C. Van Milligen, City Manager
SUBJECT:
Kenneth J. TeKippe, Finance Director
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ut onze eposltory nstltutlOns
FROM:
DATE:
November 16, 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 adds Liberty Bank: as a potential depository. Liberty Bank:
recently opened a branch office in Dubuque and a bank representative has requested that
municipal utility payments be accepted at their institution. The back of utility bills indicates that
payments can be made at City Hall or any local bank. Based on the request, information
indicated on the bill, and the potential to utilize an additional local financial institution, I
recommend including Liberty Bank as an authorized depository institution.
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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