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<br />. <br />.. CITY OF ARDEN illLLS <br />. RAMSEY COUNTY <br /> - <br /> RESOLUTION NO. 96-02 <br />. RESOLUTION DESIGNATING ADDITIONAL MONEY MARKET DEPOSITORIES <br /> FOR INVESTMENT PURPOSES <br />. <br />. WHEREAS, Resolution No. 96-01 designates the First Bank St. Paul, N.A. as the official <br /> depository for funds of the City of Arden Hills for calendar year 1996; and <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 money market <br />. funds are designated additional depositories for the sole purpose of investing cash or cash <br /> equivalent funds of the City of Arden Hills: <br />. Minnesota Municipal Liquid Asset Fund (4M Fund) <br /> Norwest Bank Minnesota N.A., Prime Value U.S. Government Fund <br />.. Smith Barney Money Funds Inc Cash Portfolio <br /> BE IT FURTHER RESOLVED, that the City Treasurer is authorized to take whatever actions <br /> are necessary to make investments in the aforesaid money market funds and to ascertain that <br />. adequate security, as required by the laws of the State of Minnesota, is furnished by such money <br /> market funds to protect the City's deposited funds against fmancial loss. <br />. PASSED AND ADOPTED BY THE CITY COUNCIL OF THE CITY OF ARDEN HILLS <br /> TillS 2ND DAY OF JANUARY, 1996. <br />. DENNIS PROBST, MAYOR <br />. ATTEST: <br />. <br /> BRIAN FRITSINGER, CITY ADMINISTRATOR <br />. <br />. <br />.e <br />. <br />