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<br /> ~- <br /> .-A~HILLS . <br /> CITY OF ARDEN HILLS <br /> COUNTY OF RAMSEY <br /> ST ATE OF MINNESOTA <br /> RESOLUTION NO. 07-03 <br />RESOLUTION D:ESIGNATING BROKERAGE FIR!VIS FOR INVESTMENT IN <br />FINANCIAL INSTRUMENTS AUTHORIZED BY STATE STATUTE <br />CONSISTENT WITH THE CITY INVESTl\JENT POLICY <br />\VHEREAS, it is desirable to invest City funds at the highest available interest rate; <br />NO\V THEREFORE, BE IT RESOL VED that effective this date, the following brokerage <br />firms are designated for the sole purpose of investing City funds in Federal government instruments <br />or other authorized investments allowed hy State statutes and consistent \vith the formal investment <br />policy of the City: <br /> Dain Rauscher COIV. <br />Minnesota Municipal Moncy Market Fund (4M Liquid Asset and 4M PLUS Funds) . <br /> Wells Fargo Brokerage Services, I.LC <br /> Salomon Smith Barney Inc. <br />BE IT FURTHER RESOL VED; that the Treasurer is authorized to take whatever actions <br />are necessary to make investments at the aforesaid brokcrage firms alJd to ascertain that adequate <br />security, as required by the laws of the State of Minnesota. is lhrnished by the issuing bank or <br />savings and loan to protect the City's deposited funds against financial loss; and <br />BE IT FURTHER RESOLVED, that no collateral be required for Federal government <br />instruments since these investments are backed by the full faith and credit of the United States <br />government. <br />ADOPTED BY THE CITY COUNCIL OF TilE crn' OF ARDEN lULLS THIS 8th <br />DAY OF JANUARY, 2007. <br /> Stanley D. lIarpstead, ]\Iayor <br />ATTEST: <br />Michelle A. \Volfe, Administrator <br /> . <br />