RESOLUTION NO. 10549-092005

                              A RESOLUTION RESCINDING RESOLUTIONS 9202-061796,

9822-041800, AND 10325-121603, AND

                      RESTATING PUBLIC DEPOSITORIES FOR THE CITY OF OAK CREEK.

                                                                                                        BY__________________________________________________

WHEREAS, S. 62.12(7), Wis. Stats. provides for the designation by the Common Council of the City of Oak Creek of Public Depositories in which City funds shall be deposited; and,

WHEREAS, the City adopted Resolution 9202-061796 which listed the financial institutions that are considered as public depositories for the City of Oak Creek, and also adopted Resolutions 9822-041800 and 10325-121603, which authorized additional financial institutions to be considered public depositories for the City of Oak Creek; and,

WHEREAS, over time, financial institutions have changed corporate names and structures, and some financial institutions listed are no longer utilized by the City; and,

WHEREAS, the City wishes to add Smith-Barney, Citigroup to its list of authorized public depositories;

NOW THEREFORE BE IT RESOLVED by the Mayor and Common Council that Resolutions No. 9202-061796, 9822-041800, and 10325-121603 are hereby rescinded; and,

BE IT FURTHER RESOLVED that the following shall be considered as public depositories of the City of Oak Creek for time deposits, repurchase agreements and authorized investments:

            Associated Bank

            Bank Mutual

            Chase Bank – Milwaukee

            Chase Bank – Wisconsin Trust Company NA

            Dana Investment Advisors, Inc.

            M & I (Marshall & Ilsley) Bank

            MBIA-MISC (Municipal Investors Service Corp.)

            St. Francis Bank

            Smith-Barney, Citicorp

            Tri-City National Bank – Oak Creek

            US Bank

            Wauwatosa Savings Bank

BE IT FURTHER RESOLVED, that withdrawal or disbursements shall be only by checks and order, as provided in S. 66.04 (2), Wisconsin Statutes, and a system shall be provided to properly accommodate investment of such funds by wire; that in accordance therewith, all checks and order shall be signed by the following persons:  the City Clerk-Comptroller, the City Treasurer, and countersigned by the Mayor, and shall so be honored.

Introduced at a regular meeting of the Common Council of the City of Oak Creek held this 20^th  day of September,  2005.

Approved this ____ day of ____________, 2005.

_________________________________________

President, Common Council

Passed and adopted this _____ day of ______________, 2005

______________________________________

Mayor

ATTEST:

 _________________________________     VOTE:   Ayes ____    Noes ____

City Clerk