HomeMy WebLinkAboutRESOLUTION 1980-135~ ' ' ~
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CITY OF KENAI
RESOLUTION N0. 80-135
A RESOLLP!'ION OP THE COUNCIL OF THE CITY OF KENAI. ALASRA,
ESTABLISHING ALL ALASRA BANKS AS PERBlISSABLE DEPOSITORIBS POR
M[IIVICIPAL PUNDS.
WHEREAS, Resolution t~o. 78-146 designated Alaska State Bank,
Renai Branch, and/or National Hank Qf Alaska, Renai Branch,
and/or Pirst Federal Savings Bank, and/or First National Bank of
Anchorage, Renai Branch as official depositories of municipal
fun8s, and
WHEREAS, the ~ity has receivec3 requests from other banks,
including those located fn Soldotna anc7 in Anchorage, to be
allowed to bid on City fnvestments, and
WHEREAS, the City may be able to recefve better interest rates on
ita investments by solfciting bids for investments, inclu8ing
time certificates of deposit and repurchase agreements, from a
larger number of banks.
NOW, 'PHEREPORE. BE IT RESOLVED BX '~HE COUNCIL OP THE CITY OP
KENAI. ALASRA, thats
Section 1: Resolution No. 78-1a6 is rescinded.
Section 2: A11 Alaska banks be designated as permissable
depositoriea for municipal funds, subject to the
collateraliaation requirements of Resolution No. 78--3.
PASSED BY TBE COUNCIL OL~ THE CITY OF REN I", ALASKA, tY,is 20th day
of August. 1980. ~ ~ . ~ /J 9~7
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VINCENT 0'REILLY, MAYOR
ATTESTs
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S et Whelan, City Clerk