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<br />. <br /> <br />. <br /> <br />. <br /> <br />CITY OF ARDEN HILLS <br />RAMSEY COUNTY <br />STATE OF MINNESOTA <br /> <br />RESOLUTION NO. 98-02 <br /> <br />RESOLUTION DESIGNATING ADDITIONAL MONEY MARKET DEPOSITORIES <br />FOR INVESTMENT PURPOSES <br /> <br />WHEREAS, Resolution No. 98-01 designates the First Bank St. Paul, NA as the official <br />depository for funds of the City of Arden Hills for calendar year 1998; and <br /> <br />WHEREAS, it is desirable to invest City funds at the highest available interest rate; <br /> <br />NOW THEREFORE, BE IT RESOLVED that effective this date, the following money market <br />funds are designated additional depositories for the sole purpose of investing cash or cash <br />equivalent funds of the City of Arden Hills: <br /> <br />Minnesota Municipal Liquid Asset Fund (4M Liquid Asset and PLUS Funds) <br />Norwest Bank Minnesota N.A., Prime Value U.S. Government Fund <br />Smith Barney Money Funds Government Portfolio Class A <br /> <br />BE IT FURTHER RESOLVED, that the City Treasurer is authorized to take whatever actions <br />are necessary to make investments in the aforesaid money market funds and to ascertain that <br />adequate security, as required by the laws of the State of Minnesota, is furnished by such money <br />market funds to protect the City's deposited funds against financial loss. <br /> <br />PASSED AND ADOPTED BY THE CITY COUNCIL 07HE CITY OF ARDEN HILLS <br />THIS 5TH DAY OF JANUARY, 1998. F <br /> <br /> <br />D <br /> <br />ATTEST: <br /> <br />~ <br /> <br />BRIAN FRITSINGER, CITY ADMINISTRATOR <br />