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<br />. <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />STATE OF MINNESOTA <br /> <br />COUNTY OF RAMSEY <br /> <br />CITY OF ARDEN HILLS <br /> <br />RESOLUTION NO. 87-3 <br /> <br />RESOLUTION DESIGNATING BROKERAGE FIRMS FOR <br />INVESTMENT IN FEDERAL GOVERNMENT INSTRUMENTS <br /> <br />WHEREAS, Resolution No. 87-2 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, 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 <br />this 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 & Sm~th, 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 <br />required since investments are authorized only in federal <br />government instruments which are backed by the full faith and <br />credit of the United States Government. <br /> <br />Passed by the Arden Hills City Council this 2nd <br />day of January, 1987. <br /> <br />/7.1~ L.,,/.... / r/::. <br />..iJ tr~ Q"-r:.../ "'"';>'"'et.--....-~~ <br />Robert L, Woodburn, Mayor <br /> <br />ATTEST: <br /> <br />