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<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 goverrunent instruments: <br /> Piper Capital Management, Inc. <br /> Merrill, Lynch, Piercet 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 instrTh~ents 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 /> ~M t/~ <br /> Thomas R. Sather <br /> Hayar <br /> ATTEST; <br /> Ga!:;J B1!rgerl3h'~ <br /> City Administrator <br /> . <br />