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<br />STATE OF MINNESOTA <br /> <br />COUN-,-Y OF RMSEY <br /> <br />CITY OF ARDEN HILLS <br /> <br />RESOLUTION NO. 83-3 <br /> <br />RESOLUTION DESIGNATING BROKERAGE FIRMS FOR <br />INVESTMENT IN FEDERAL GOVERNMENT INSTRUMENTS <br /> <br />. <br /> <br />WHEREAS, Resolution No. 83-2 (Gslg~~tos several banks <br /> <br />and savings and loan companIes as depositories for the sole <br /> <br />purpose of investing funds of the City of Arden HI! is, and <br /> <br />WHEREAS, it Is desirable to invest City funds at <br />the highesT availuble Interest rate, <br /> <br />NOW, THEREFORE, BE IT RESOLVED that, effective this <br /> <br />date, t~e fol lowing brokerage firms are des!gnated for the sole <br /> <br />purpose of investing City funds fn federal government Instru- <br /> <br />monts: <br /> <br />Kidder Psobody & Company, Inc. <br />Merri I ~, Lynch, Pierce, Fenner & Smith, Inc. <br /> <br />BE IT FURTHER RESOLVED that the City Treasurer Is <br /> <br />authorized to take whatever actions are necossary to make <br /> <br />Investments at the aforesaid brokerage firms, and <br /> <br />BE IT FURTHER RESOLVED that no col~ateral be required <br /> <br />since investments are authorized only In federaft government <br /> <br />instruments which are backed by the full faith and credit of <br /> <br />the United States Government. <br /> <br />Passed by the Arden Hills City Councl I this 3rd day <br />. of January, 1983. <br /> <br />f~~ <br /> <br />Robel"t L. Woodburn <br />Mayor <br /> <br />ATTES T: <br /> <br />(]iLaf;~ <br /> <br />Char!ot~e NeNiash <br />Clerk Administrator <br />