HomeMy WebLinkAbout79-034
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STATE OF MiNNESOTA
COUNTY OF RAMSEY
CiTY OF ARDEN HILLS
RESOLUT~ON NO. 79-34
DESIGNATION OF MiNNESOTA FEDERAL SAVINGS
AND LOAN ASSOCiAnON AS ADDinONAL DEPOSI-
TORY FOR iNVESTMENT PURPOSES
WHEREAS. Resolution Nos. 79-1 and 79-11 designate the
First Natlonai Bank of St. Paul. The Rosevllle State Bank
and Northwest$rn National Bank of St. PauD as official deposi-
tories of funds of the City of Arden Hills for the calendar year
1919; and
WHEREAS. Resolution No. 79-2 desIgnates the American Bank
of St. Paul. Northwestern National Bank of st. Paul. First NatlonaD
Bank of Minneapolis, Northwestern National Bank of Minneapolis and
OakPa,.k Heights State Bank as additional depositor-hIS fo,. the sola
purpose of Investing funds of the City of Arden Hllis; and
WHEREAS, It Is desirable to Invest City funds at the high-
est available rate,
NOW, THEREFORE. BE !T RESOLVED BY THE CITY COUNCil OF THE
CiTY OF ARDEN HILLS, MINNESOTA, that effective this data the
Minnesota Federal Savings and Loan Association Is designated an
additional depository ,for the sole purpose of Investing funds of
the City of Arden Hills, and
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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 ascertain that adequate security, ,as
required by the laws of the State of Minnesota, Is furnished by
the depositories to protect the CltyVs deposited funds against
financial loss.
Passed by the CIty Council of Arden Hills this 30th day of
July. 8979.
" Attillst:
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CharUotte McNiesh -
Clerk Administrator
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