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Albert Lea board names banks, delegates finance authority and designates official newspaper
Summary
The board named specific banks and investment trusts as district depositories, designated finance deputies and delegated authority for purchases and electronic transfers, and named the Albert Lea Tribune as the district's official newspaper, all by unanimous votes.
At its Jan. 6 special meeting the Albert Lea board named CCF Bank, Home Federal Savings Bank, Associated Bank and Trust, and Minnesota Bank and Trust as depositories for district funds and designated Minnesota Trust and MidAmerica Investment Trust as Joint Powers Investment Trusts. The board also designated Paul Durbahn as Deputy Board Treasurer and Darci Rasmussen as Deputy Board Clerk.
The board authorized the acting superintendent and Paul Durbahn to lease, purchase and contract for goods and services within approved budgets, subject to statutory bidding thresholds under Minnesota Statutes 123B.14. The board further delegated authority to the Executive Director of Finance, Operations and Safety (Paul Durbahn) and Business Services Coordinator/Controller (Kaley Grisim) to make electronic transfers with required documentation retained by the finance office. The Albert Lea Tribune was designated as the district's official newspaper for legal notices.
