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TO: Mark Bernhardson, City Administrator <br />FROM: Tom Kuehn, Finance Director k. <br />DATE: November 19, 1986 <br />12186.2 <br />4ECTING <br />VLEC 81986 <br />r_,:; f•�� ORONO <br />SUBJECT: Designation of City Officials Authorized to Approve <br />Collateral Transactions <br />As noted by the Ci'-y's Audit firm in the 1985 Financial Report <br />the City muse proN s for approval of collateral and collateral <br />transactions by the Council or its designee. Due to the need to <br />accept new, substitute, or release collateral at various times. <br />and from several institutions th-oughout the year, it is my <br />recommendation that the Council authorize the City Finance <br />Director/Treasurer, and in the Trea-.lrer's absence the Deputy <br />City Treasurer or the City Administrator, to act in the City's <br />behalf for all collateral related transactions. I have attached <br />a resolution for consideration. <br />TO: Mayor ar. I Council <br />FROM: Mark Bernt. on, City Administratorp~ <br />Forwarding recommending approval <br />PROPOSED AOTION - Moved by , seconded by __, to adopt <br />Resolution $_ designating City officials authorized to approve <br />collateral transactions. Ay _, Nays _ <br />