HomeMy WebLinkAbout78-029
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STATE Of M1NNESOTA
COUNTY 0 F RAMSEY
CITY OF ARDEN HILLS
RESOLUTION NO. 78-29
DESIGNATION OF OAK PARK HEIGHTS BANK AS AODiTIO~IAl DEPOSITORY
fOR INVESTMENT PURPOSES '
WHEREAS, Resolution No. 78-1 deslgna'i"es the first Natl,onal
Bank of St. Paul and tha Rosevl lie State Bank as official depositories
of funds of the City of Arden Hi lis for the calendar year 1978;
and
WHEREAS, Resolution No. 78..2 designates the American Bank ,.
of St Paul, Northwestern National Bank of St. Paul, First National
Bank of Mlnnea?olis and Northwestern National dank of Minneapolis
as additional depositories for the sole purpose of investing funds
of the Ci ty of Arden Hi 115; and
WHEREAS, it Is desirable to invest City funds at the 'hlghest
ava! lable rate,
NOW, THEREfORE, 8E IT RESOLVED By'.T-HE cnr COUNCI l OF THE
CITY Of ARDEN HillS, MINNESOTA, that effective this date the Oak
Park H't~hts State Bank Is designated an additional depository
for the sole purpose of investing fundsof the City of Arden Hills,
and
BE IT FURTHER RESOLVED, that the City Treasurer Is authorized
to take whatever actions are necessary to make Investments at
the aforesaid depository and to ascertaln that adequate sec~rlty,
as required by the laws of the State of Minnesota, Is furnished by
the deposfftorlos to protect the City's deposited funds against
financial loss.
Passed by the City COllnci I of Arden Hi lis this 12th day of
June, 1978.
Attest:
~~;;z,Wlt~~ _~
Charlotte McNlesh
Cieri, Admi n i strator