HomeMy WebLinkAboutVIII-12 Resolution Approve Electronic Funds Transfer Transactions
CITY OF HASTINGSDAKOTA COUNTY, MINNESOTA
RESOLUTION 01- -22
A RESOLUTION ALLOWING ELECTRONIC FUNDS TRANSFER TRANSACTIONS
WHEREAS, the banking industry has promoted electronic funds transfer to reduce papertransactions, move resources more rapidly and respond to customer demands; and
WHEREAS, Minnesota State Statute §471.38 subdivision 3 defines electronic fundstransfer as the process of value exchange via mechanical means without the use of checks, drafts,or similar negotiable instruments; and
WHEREAS, Minnesota State Statues §471.381 states that payment of claims,
obligations and investment transactions of a statutory city may be made by warrant, check, or allforms of electronic or wire funds transfer and that a statutory city may accept payment by use ofa credit card, debit card, or all forms of electronic or wire funds transfer; and
WHEREAS, the Hastings City Council acknowledges this technology and the need for
electronic fund transfer transactions both coming into and going out of the city bank andinvestment accounts; and
NOW, THEREFORE BE IT RESOLVED, the City of Hastings Finance Manager and
Senior Accountant or Finance Manager Designee may accept and make payment by electronic
funds transfer and wire transfer provided that these electronic funds transfer and wire transfertransactions meet all of the required policies of the financial institutions the City of Hastingstransacts with.
ADOPTED BY THE CITY COUNCIL OF THE CITY OF HASTINGS, THIS
3RD DAY OF JANUARY, 2022.
______________________________Mary Fasbender, Mayor
ATTEST:
_____________________________________Kelly Murtaugh, City Clerk
VIII-12