HomeMy WebLinkAbout1997-05-28 97-229 RESOLVECOUNCIL ACTION
Date: 5-28-97 It® No. 97-229
Item/Subject: RESOLVE: Appointing Peoples Heritage Bank as
Custodian of Certain Financial Assets
Responsible Department: Finance
Commentary:
This action allows the City to establishment investment accounts
with the Trust Department of Peoples Heritage Back.
1
Budget Approval: -
R!'TAR
Legal Approval:
_I traduced For
Passage
First Reading Pageo£
Heferral
9]-229
Assigned to Councilor Soucy May 28, 1997
CITY OF BANGOR
(TITLE.) �[RSo1L1Ba.... ...... Apepmfipg Peoples Herta e,Book,as Custodian of CeMaiv......... .... ....
Financial Assets
By Be My Coven! ofthe City ofBansmr:
BEWLVED.
Ne City Council of the City ofBavgor hereby appoints Peoples Heritage
Bergh (hereinafter referred to as "Bank') as custodian of certain financial assets of the City of
Bangor, effective March 1,1996; and
BE IT FURTHER RESOLVED, THAT the persons designated below are hereby
mthor ed and empowered to aided such actions and to eedeme and deliver such documents as
may he necessary to discharge the City's obligations with respect to the appointment of People's
Heritage Bank as Custodian and with respect to issuing instructions to enable the Bank to
discharge its obligation as Custodian of the Citys assets:
Ronald C Heller, Treasurer
Edward A. BMW, City Manager
Robert W. Farrar, Director ofAdrvinistration
AND, BE IT FURTHER RESOLVED, THAT this resolution will remain in effect
anti[ otherwise amended and ded it will apply to my and all Custodial accounts deemed
necessary b be established.
IN CITY COUNCIL
May 28, 1997
Passed
9]-229
RE50LVE
Aooalntine Peoples Heritaee Bank as
Custodian of Certain Financial "sets