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<br />STATE OF MINNESOTA <br />COUNTY OF RAMSEY <br />CITY OF ARDEN HILLS <br /> <br />Resolution No. 84-3 <br /> <br />RESOLUTION DESIGNATING BROKERAGE FIRMS FOR <br />I NVESTMENTI N FEDERAL GOVERNMENT INSTRUMENTS <br /> <br />WHEREAS, It Is desirable to invest City funds at <br />the hlJhest available Interest rate, <br /> <br />NOW, THEREFORE, BE IT RESOLVED that, effective this <br />date, the following brokerage firms are designated for the <br />sole purpose of Investing City funds In federal government <br /> <br />instruments: <br /> <br />Kl dder Peabody & Company, Inc. <br />Merrill, Lyncn, Pierce, Fenner & Smith, Inc. <br /> <br />BE IT FURTHER RESOLVED that the City Treasur.er Is <br /> <br />authorized to take whlltever actions lire necessary to make <br /> <br />Investments at the aforesaid brokerage firms, and <br />BE IT FURTHER RESOLVED that nocoflateral be <br /> <br />required since Investments are authoriZed only In federal <br /> <br /> <br />government Instruments which ere backed by the full faith <br /> <br /> <br />and credit of the United States Government. <br /> <br />Passed by the Arden Hills City Council this 3rd'day <br />of January, 1984. <br /> <br />. <br /> <br />;(~~ <br /> <br />~obert L. Woodburn <br />Mayor <br /> <br />ATTEST: <br /> <br />~1-H.~@~ <br /> <br />Clerk Administrator <br />