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<br />STATE OF MINNESOTA <br />COUNTY OF RAMSEY <br />CITY OF ARDEN HILLS <br /> <br />Resolution No. 85-3 <br /> <br />RESOLUTION DESIGNATING BROKERAGE FIRMS FOR <br />INVESTMENT IN FEDERAL GOVERNMENT INSTRUMENTS <br /> <br />. <br /> <br />WHEREAS, Resolution No. 85-2 designates several banks and savings <br />and loan companies as depositories for the sole purpose of investing funds <br />, of the City of Arden Hills, and <br />WHEREAS, it is desirable to invest City funds at the highest avail- <br />able interest rate, <br /> <br />NOW, THEREFORE, BE IT RESOLVED that, effective this date the <br /> <br />following brokerage firms are designated for the sole purpose of investin~ <br /> <br />City funds in federal government 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 authorized to <br /> <br /> <br />take whatever actions are necessary to make investments at the aforesaid <br /> <br /> <br />brokerage firms, and <br /> <br /> <br />BE IT FURTHER RESOLVED that no collateral be required since <br /> <br /> <br />investments are authorized only in federal government instruments which <br /> <br /> <br />are backed by the full faith and credit of the United States Government. <br /> <br /> <br />Passed by the Arden Hills City Council this 2nd day of January, <br /> <br />1985. <br /> <br />4i:~~~~ <br /> <br />Mayor <br /> <br />. <br /> <br />, ATTEST: <br /> <br />~ <br /> <br />Clerk Administrator <br />