Laserfiche WebLink
<br />STATE OF MINNESOTA <br />COUNTY OF RAMSEY <br />CITY OF ARDEN HILLS <br />RESOLUTION NO. 86-3 <br /> <br />RESOLUTION DESIGNATING BROKERAGE FIRMS FOR <br />INVESTMENT IN FEDERAL GOVERNMENT INSTRUMENTS <br /> <br />. <br /> <br />WHEREAS, Resolution No. 86-2 designates several <br />banks and savings and loan companies as depositories for the <br />sole purpose of investing funds of the City of Arden Hills, <br />and <br /> <br />WHEREAS, it is desirable to invest City funds at <br />the highest 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 />instruments: <br /> <br />Kidder Peabody & Company, Inc. <br />Merrill, Lynch, Pierce, Fenner & Smith, Inc. <br /> <br />BE IT FURTHER RESOLVED that the City Treasurer is <br />authorized to take whatever actions are necessary to make <br />investments at the aforesaid brokerage firms, and <br /> <br />BE IT FURTHER RESOLVED that no collateral be required <br />since investments are authorized only in federal government <br />instruments which are backed by the full faith and credit <br />of the United States Government. <br /> <br />Passed by the Arden Hills City Council this 2nd <br />day of January, 1986. <br /> <br />I?~~~~ <br /> <br />Robert L. Woodburn <br />Mayor <br /> <br />ATTEST: <br /> <br />, <br /> <br />c1kpu(2J)U~ <br /> <br />Charlotte McNiesh <br />Clerk Administrator <br />