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<br />. <br /> <br />. <br /> <br />. <br /> <br />~ <br />~HILLS <br /> <br />CITY OF ARDEN HILLS <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br /> <br />RESOLUTION NO. 06-04 <br /> <br />RESOLUTION DESIGNATING MONEY MARKET DEPOSITORIES <br />FOR INVESTMENT PURPOSES <br /> <br />WHEREAS, Resolution No.06-02 designates the u.s. Bank St. Paul, N.A. as the official <br />depository for funds of the City of Arden Hills for calendar year 2006; and <br /> <br />WHEREAS, it is desirable to invest City funds at the highest available interest rate; <br /> <br />NOW THEREFORE, BE IT RESOLVED that effective this date, the following moncy <br />market funds are designated additional depositories for the sole purpose of investing cash or cash <br />equivalent funds of the City of Arden Hills: <br /> <br />Minnesota Municipal Liquid Asset Fund (4M Liquid Asset and 4M PLUS Funds); <br />Wells Fargo Government Money Market Fund; and Salomon Smith Barney Money Funds <br />Government Portfolio Class A. <br /> <br />BE IT FURTHER RESOLVED, that the 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 financial loss. <br /> <br />ADOPTED BY THE CITY COUNCIL OF THE CITY OF ARDEN HILLS THIS 9th <br />DAY OF JANUARY, 2006. <br /> <br />/ <br /> <br />Bee=kj:l~' <br /> <br />ATTEST: <br /> <br />\M(~~~ <br /> <br />Michelle A. Wolfe, ADMINISTRA TO <br /> <br />\\Metro-inct.us\ArdenHills\Admin\Council\Resolutions\2006\06-04, Designating Additional Money Market Depositories.doc <br />