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,ARPEN HILLS <br /> CITY OF ARDEN HILLS <br /> COUNTY OF RAMSEY <br /> STATE OF MINNESOTA <br /> RESOLUTION NO. 2012-030 <br /> RESOLUTION DESIGNATING BROKERAGE FIRMS FOR INVESTMENT IN <br /> FINANCIAL INSTRUMENTS AUTHORIZED BY STATE STATUTE <br /> CONSISTENT WITH THE CITY INVESTMENT POLICY <br /> WHEREAS, it is desirable to invest City funds at the highest available interest rate; <br /> NOW THEREFORE,BE IT RESOLVED that effective this date,the following brokerage <br /> firms are designated for the sole purpose of investing City funds in Federal government instruments <br /> or other authorized investments allowed by State statutes and consistent with the formal investment <br /> policy of the City: <br /> RBC Wealth Management <br /> Minnesota Municipal Money Market Fund (4M Liquid Asset and 4M PLUS Funds) <br /> Wells Fargo Securities, LLC <br /> Wells Fargo Advisors, LLC <br /> Morgan Stanley Smith Barney, LLC <br /> BE IT FURTHER RESOLVED,that the Treasurer is authorized to take whatever actions <br /> are necessary to make investments at the aforesaid brokerage firms and to ascertain that adequate <br /> security, as required by the laws of the State of Minnesota, is furnished by the issuing bank or <br /> savings and loan to protect the City's deposited funds against financial loss; and <br /> BE IT FURTHER RESOLVED, that no collateral be required for Federal government <br /> instruments since these investments are backed by the full faith and credit of the United States <br /> government. <br /> ADOPTED BY THE CITY COUNCIL OF THE CITY OF ARDEN HILLS THIS 10th <br /> DAY OF SEPTEMBER 2012. <br /> David Grant, Mayor <br /> ATTEST: <br /> Patrick Klaers, Administrator <br />