HomeMy WebLinkAbout2024-01-02 I01D_02 Appointment - Official City DepositoriesAGENDA ITEM:
CITY OF WAUKEE, IOWA
CITY COUNCIL MEETING COMMUNICATION
MEETING DATE: January 2, 2024
AGENDA ITEM:Consideration of approval of a resolution approving Official City
Depositories for 2024
FORMAT:Consent Agenda
SYNOPSIS INCLUDING PRO & CON: This is an annual approval that is made at the
first of each year.
FISCAL IMPACT INCLUDING COST/BENEFIT ANALYSIS:
COMMISSION/BOARD/COMMITTEE COMMENT:
STAFF REVIEW AND COMMENT: City staff recommends approval of a $100,000,000
depository maximum for all banking institutions listed in the proposed
resolution. All said banking institutions are FDIC insured, and are in
Conformance with all applicable provisions of the Code of Iowa §452
and §453 (1983) as amended by 1984 Iowa acts, S.F. 2000 and HF571
signed May 1999.
RECOMMENDATION: Approve the appointment.
ATTACHMENTS: I. Proposed Resolution
PREPARED BY:Becky Schuett
REVIEWED BY:
PUBLIC NOTICE INFORMATION –
NAME OF PUBLICATION:
DATE OF PUBLICATION:
I1D2
THE CITY OF WAUKEE, IOWA
RESOLUTION 2024-
APPROVING OFFICIAL CITY DEPOSITORIES FOR 2024
IN THE NAME AND BY THE AUTHORITY OF THE CITY OF WAUKEE, IOWA
WHEREAS, the City of Waukee, Iowa, is a duly organized municipality within Dallas County; AND,
WHEREAS, the Waukee City Council must designate official depositories annually; AND,
WHEREAS, pursuant to the City’s investment policy, the City will keep all deposits and investments,
within an adjacent county area; AND,
WHEREAS, the City Clerk and/or City Finance Director is authorized to deposit funds of the City of
Waukee, in amounts not to exceed the maximum approved for each respective financial institution, as
set out below:
1.Banker’s Trust Company, Des Moines $ 100,000,000
2.Wells Fargo $ 100,000,000
3.Earlham Savings Bank $ 100,000,000
4.Bank of the West $ 100,000,000
5.Community State Bank of Waukee $ 100,000,000
6.Waukee Charter Bank $ 100,000,000
7.First Federal Savings Bank of Iowa $ 100,000,000
8.Peoples Trust & Savings Bank $ 100,000,000
9.Central Bank $ 100,000,000
10.Iowa Public Agency Investment Trust (IPAIT) $ 100,000,000
11.West Bank $ 150,000,000; AND:
WHEREAS, the City of Waukee believes that said banking institutions listed above are fine
institutions, are FDIC insured, and are in Conformance with all applicable provisions of the Code of
Iowa §452 and §453 (1983) as amended by 1984 Iowa acts, S.F. 2000 and HF571 signed May 1999.
NOW THEREFORE BE IT RESOLVED that the City Council of Waukee, Iowa does hereby
approve the above-mentioned institutions as official depositories this 2nd day of January, 2024.
____________________________
Courtney Clarke, Mayor
Attest:
___________________________________
Rebecca D. Schuett, City Clerk
RESULTS OF VOTE: AYE NAY ABSENT ABSTAIN
R. Charles Bottenberg
Chris Crone
Rob Grove
Anna Bergman Pierce
Ben Sinclair