City Council Minutes 1999 04 20 - Laserfiche WebLink

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Davidson excused Sisk. Davidson called for staff presentation. Dianne Ray, Finance Director, asked to report to Council that, in the month of March, the City of Louisville paid off two general obligation water bonds. She further explained that the Finance Committee reviewed banking bids from the Bank in Louisville, Norwest and BankOne. The Finance Committee recommended that the three-year contract be awarded to Norwest. Davidson called for Council comments and questions. Lathrop moved that Council award the three-year banking contract to Norwest Bank, seconded by Levihn. Sam Light, City Attorney, offered a friendly amendment that the motion also include authorization for the Mayor to execute a final contract consistent with Norwest's proposal. Friendly amendment was accepted by Lathrop and Levihn. Roll call was taken. Motion passed by a 5-0 vote, with Sisk excused and Keany absent. RESOLUTION NO. 24, SERIES 1999 - A RESOLUTION APPROVING AND DESIGNATING NORWEST BANK OF COLORADO, N.A., AS A DEPOSITORY FOR FUNDS AND MONEYS OF THE CITY OF LOUISVILLE Davidson called for City Attorney introduction. Sam Light, City Attorney, explained that this Resolution is pursuant to Colorado Statute 31-20-303, which requires that the Council designates and approves depositories of funds of the City. This Resolution will designate and approve Norwest Bank, Colorado, N.A., as a depository of funds. Davidson called for Council comments and questions. Lathrop moved that Council approve Resolution No. 24, Series 1999 - A Resolution Approving and Designating Norwest Bank of Colorado, N.A., as a Depository for Funds and Moneys of the City of Louisville, seconded by Mayer. Roll call was taken. Motion passed by a 5-0 vote, with Sisk excused and Keany absent.