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"I't <br /> EN HILLS <br /> MEMORANDUM <br /> DATE: September 10, 2012 <br /> TO: Honorable Mayor and City Council <br /> Patrick Klaers, City Administrator <br /> FROM: Sue Iverson, Director of Finance and Administrative Services <br /> SUBJECT: Resolution Designating Brokerage Firms for Investments <br /> Background/Discussion: <br /> Annually, the City Council designates official depositories and brokerage firms for investment of <br /> City funds. With all the consolidations of investment and banking firms in the past years, some <br /> of the agency/brokers we used have had name changes. (For example, RBC Dain Rauscher <br /> Corporation is now RBC Wealth Management) <br /> For audit purposes and for City records, we would like to update these officially in the City <br /> records by resolution. There are no changes in our accounts or signature cards, we are only <br /> updating the names for our official records since there have been some changes since our <br /> resolution designating these firms in January. <br /> Staff Recommendation: <br /> Staff recommends approval of Resolution 2012-030, a resolution designating brokerage firms for <br /> investment in financial instruments authorized by State Statute consistent with the City <br /> Investment Policy. <br />