HomeMy WebLinkAbout2019-01-07-J15 Appointment - Official City DepositoriesAGENDA ITEM:
CITY OF WAUKEE, IOWA
CITY COUNCIL MEETING COMMUNICATION
MEETING DATE: January 7, 2019
AGENDA ITEM:Consideration of the appointment of the Official City Depositories for
2019
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:
J15
THE CITY OF WAUKEE, IOWA
RESOLUTION 19-
APPROVING THE NAMING OF OFFICIAL CITY DEPOSITORIES FOR 2019
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. First American Bank of Iowa $ 100,000,000
3. Wells Fargo $ 100,000,000
4. Earlham Savings Bank $ 100,000,000
5. Bank of the West $ 100,000,000
6. Community State Bank of Waukee $ 100,000,000
7. Waukee Charter Bank $ 100,000,000
8. First Federal Savings Bank of Iowa $ 100,000,000
9. Peoples Trust & Savings Bank $ 100,000,000
10. West Bank $ 100,000,000
11. Central Bank $ 100,000,000
12. Iowa Public Agency Investment Trust (IPAIT) $ 100,000,000; 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 do hereby appoint
the above-mentioned institutions as official depositories this 7th day of January, 2019.
____________________________
William F. Peard, Mayor
Attest:
___________________________________
Rebecca D. Schuett, City Clerk
RESULTS OF VOTE: AYE NAY ABSENT ABSTAIN
Anna Bergman
R. Charles Bottenberg
Courtney Clarke
Shelly Hughes
Larry R. Lyon