HomeMy WebLinkAbout~Master - List of financial institutions to be depositories for the City RESOLUTION NO. 01-384
RESOLUTION REMOVING BRENTON BANK FROM THE LIST OF APPROVED
DEPOSITORIES AND APPROVING THE ADDITION OF
EXCHANGE STATE BANK TO THE APPROVED
DEPOSITORY RESOLUTION
FOR THE CITY OF AMES,IOWA
WHEREAS, periodically it is necessary to review and update the list of approved
depositories to reflect business and market changes; and,
WHEREAS, with the purchase of Brenton Bank by Wells Fargo, it is necessary to remove
Brenton Bank from the list of approved depositories; and,
WHEREAS, the City encourages the active involvement of local and county financial
institutions and welcomes the additional competition in bidding for City funds; and,
WHEREAS,the City has received a letter from Exchange State Bank of Collins requesting
inclusion on our list of approved depositories; and,
WHEREAS,the main office of Exchange State Bank is in Collins with a branch location in
Mingo.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Ames, Iowa,
that the deletion of Brenton Bank from the approved list of depositories and the addition of
Exchange State Bank to the approved depository resolution with a limit of$15,000,000 is hereby
approved.
ADOPTED THIS 28th day of August, 2001.
Diane R. Voss, City Clerk Ted Tedesco, Mayor
Introduced by:
Seconded by:
Voting aye: Cross, Hoffinan, Quirmbach, Wirth
Voting nay: None Absent: Campbell, Goodhue
Resolution declared adopted and signed by the Mayor this 28th day of August, 2001.