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<br />. <br /> <br />. <br /> <br />. <br /> <br />CITY OF ARDEN HILLS <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br /> <br />RESOLUTION NO. 03-02 <br /> <br />RESOLUTION DESIGNATING ADDITIONAL MONEY MARKET DEPOSITORIES <br />FOR INVESTMENT PURPOSES <br /> <br />WHEREAS, Resolution No.03-0l designates the U,S, Bank St Paul, N,A, as the official <br />depository for funds of the City of Arden Hills for calendar year 2003; 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 <br />market 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 4M PLUS Funds); <br />Wells Fargo Government Money Market Fund; and Salomon Smith Barney Money Funds <br />Government Portfolio Class A <br /> <br />BE IT FURTHER RESOLVED, that the 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 />ADOPTED BY THE CITY COUNCIL OF THE CITY OF ARDEN HILLS THIS 6th <br />DAY OF JANUARY, 2003. <br /> <br />Beverly Aplikowski, MAYOR <br /> <br />ATTEST: <br /> <br />Joe Lynch, ADMINISTRATOR <br />