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<br /> CITY OP ARDEN HILLS <br />. RAMSEY COUNTY, MINNESOTA <br /> RESOLUTION NO. 94-23 <br /> RESOLUTION DESIGNATING DEPOSITORIES <br /> FOR INVESTMENT PURPOSES <br /> WHEREAS, Resolution No. 94-01 designates the First Bank St. Paul, <br /> N.A. as the official depository for funds of the City of Arden <br /> Hills for calendar year 1994; and <br /> WHEREAS, it is desirable to invest City funds at the highest <br /> available interest rate; <br /> NOW, THEREFORE, BE IT HEREBY RESOLVED, that effective this date, <br /> the following brokerages are designated as depositories for the <br /> sole purpose of investing funds of the City of Arden Hills: <br /> Raymond James & Associates, Inc. c/o Hart Securities, Inc. <br /> Minnesota Municipal Liquid Asset Fund (4M Fund) <br /> Norwest Bank Minnesota N.A., U.S. Government Fund <br /> Paine Webber Cash Fund <br /> Piper Jaffray Money Market Fund <br /> Smith Barney Shearson, Daily Dividend Fund <br />. BE IT FURTHER RESOLVED, that the City Treasurer is authorized to <br /> take whatever actions are necessary to make investments at the <br /> aforesaid depositories and to ascertain that adequate security, <br /> as required by the laws of the State of Minnesota, is furnished <br /> by such depositories to protect the City's deposited funds <br /> against financial loss. <br /> ADOPTED BY THE ARDEN HILLS CITY COUNCIL THIS 14TH DAY OP MARCH, <br /> 1994. <br /> Thomas R. Sather, Mayor <br /> ATTEST: <br /> Dorothy A. Person, City Administrator <br /> . <br />. <br />