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<br /> , <br /> . <br /> CITY OF ARDEN HILLS . <br /> RAMSEY COUNTY, MINNESOTA <br /> RESOLUTION NO. 90-03 <br /> RESOLUTION DESIGNATING BROKERAGE FIRMS FOR INVESTMENT <br /> IN FEDERAL GOVERNMENT INSTRUMENTS <br />WHEREAS, Resolution No. 90-01 designates several banks and savings and <br />loan companies as depositories for the sole purpose of investing funds of <br />the City of Arden Hills; and <br />WHEREAS, it is desirable to invest City funds at the highest available <br />interest rate; <br />NOW, THEREFORE BE IT RESOLVED that effective this date, the following <br />brokerage firms are designated for the sole purpose of investing City <br />funds in Federal government instruments: <br /> Piper Capital Management, Inc. <br /> Merrill, Lynch, Pierce, Fenner & Smith, Inc. <br /> Shearson Lehman Hutton <br />BE IT FURTHER RESOLVED that the City Treasurer is authorized to take <br />whatever actions are necessary to make investments at the aforesaid . <br />brokerage firms; and <br />BE IT FURTHER RESOLVED that no collateral be required since <br />investments are authorized only in Federal government instruments which <br />are backed by the full faith and credit of the United States government. <br />Passed by the Arden Hills City Council this 8th day of January, 1990. <br /> Thomas R. Sather <br /> Mayor <br />ATTEST: <br />Gary R. Berger <br />City Administrator <br /> . <br />