Wellman council approves depositories

by Mary Coblentz
In a seven-minute meeting Monday, the Wellman City Council approved a resolution approving Federation Bank, Hills Bank and Trust, and Iowa Public Agency Investment Trust as depositories for the city.
Federation Bank, Wellman, was approved for not more than seven money market accounts, one checking account, two savings accounts, and certificates of deposits not to exceed a total of all deposits in the amount of $1,250,000.
Hills Bank and Trust, Wellman, was approved for up to two money market accounts, two checking accounts, three savings accounts, and certificates of deposits not to exceed a total of all deposits in the amount of $1,250,000.
The IPAIT was approved for investment account for deposits not to exceed $500,000.
Also, the resolution authorizes City Clerk Donna Wade, Mayor Ryan Miller, and Mayor Pro Tempore Marc Pennington to sign for the accounts.
In other business, the council:

• appointed Don Randol to the Goodwin Senior Commission;
• noted that three streetlights are burned out on Main Street; replacement bulbs are on order; and
• noted that the open house for Parkside Activities Center was well-attended, and all the council members are pleased it is finally open.