HomeMy WebLinkAbout82-030
STIHE OF M,NNESOTJI,
COUNTY OF RAMSEY
CITY OF ARDEN HILLS
Resolution No. 82-30
RESOLUTION DESiGNATING BROKERAGE FiRMS FOR
INVESTMENT IN FEDERAL GOVERNMENT INSTRUMENTS
.
WHEREAS, Resolution No. 82-2 designates several banks
and savings and loan companies as depositories for the sole
purpose of investing funds of the City of Arden Hills, and
WHEREAS, it is desirable to Invest City funds at the
highest availab!e interest rate,
NOW, THEREFORE, BE IT RESOLVED that, effective this
date, the folfowlng brokerage firms are designated for the sole
purpose of Investing City funds In federal government Instru-
ments:
Kl dder Peabody & Co, Inc.
Merri II, Lynch, Pierce, Fenner & Smith, Inc.
BE IT FURTHER RESOLVED that the City Treasurer Is
authorized to take whatever actions are necessary to make in-
vestments at the aforesaid brokerage firms, and
BE IT FURTHER RESOLVED that no co~ lateral be required
since Investments are authorized only in federal government
Instruments which are backed by the full fal1'h and credit of
the United States Government.
Passed by the Arden Hills City Counc!1 this loth day
of ~4ay, 1982.
. R~~L~.
Roberot L. Woodburn
i~ayor
Attest:
~.~
Charlotte McNiesh -
Clerk Administrator