Laserfiche WebLink
<br /> CITY OF ARDEN HILLS <br /> . RAMSEY COUNTY <br /> STATE OF MINNESOTA <br /> RESOLUTION NO. 98-02 <br /> RESOLUTION DESIGNATING ADDITIONAL MONEY MARKET DEPOSITORIES <br /> FOR INVESTMENT PURPOSES <br /> WHEREAS, Resolution No. 98-01 designates the First Bank St. Paul, N.A. as the official <br /> depository for funds of the City of Arden Hills for calendar year 1998; 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 Liquid Asset and PLUS Funds) <br /> Norwest Bank Minnesota N.A.. Prime Value U.S. Government Fund <br /> Smith Barney Money Funds Government Portfolio Class A <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 financial loss. <br /> PASSED AND ADOPTED BY THE CITY COUNCIL OF THE CITY OF ARDEN HILLS <br /> THIS 5TH DAY OF JANUARY, 1998. <br /> DENNIS PROBST, MAYOR <br /> ATTEST: <br /> BRIAN FRITSINGER, CITY ADMINISTRATOR <br /> . <br /> ~ -- <br />