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<br />~ <br />~HILLS <br /> <br />CITY OF ARDEN HILLS <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br /> <br />RESOLUTION NO. 07.48 <br /> <br />RESOLUTION DESIGNATING AN ADDITIONAL DEPOSITORY <br />FOR INVESTMENT PURPOSES <br /> <br />WHEREAS, the City of Arden Hills designates U.S. Bank St. Paul, N.A. as the official <br />depository for funds ofthe City of Arden Hills for calendar year 2007; and <br /> <br />WHEREAS, it is desirable to invest City funds at the highest available interest rate; <br /> <br />NOW THEREFORE, BE IT RESOL YED that effective this date, the following depository <br />is designated as an additional depository for the sole purpose of investing cash or cash equivalent <br />funds of the City of Arden Hills: <br /> <br />Affinity Plus Federal Credit Union. <br /> <br />BE IT FURTHER RESOLVED, that the Treasurer is authorized to take whatever actions <br />are necessary to make investments in the aforesaid depository and to ascertain that adequate security, <br />as required by the laws ofthe State of Minnesota, is furnished by such money market funds to protect <br />the City's deposited funds against financial loss. <br /> <br />ADOPTED BY THE CITY COUNCIL OF THE CITY OF ARDEN HILLS THIS 30th <br />DAY OF APRIL, 2007. <br /> <br />Stanley D. Harpstead, Mayor <br /> <br />ATTEST: <br /> <br />Michelle A. Wolfe, ADMINISTRATOR <br />