HomeMy WebLinkAbout75-002
STATE OF MINNESOTA
COUNTY OF RAMSEY
CITY OF ARDEN HILLS
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RESOLUTION NO. 75-2
DESIGNATION OF ADDITIONAL DEPOSI-
TORIES FOR INVESTMENT PURPOSES
WHEREAS, Resolution No. 75-1 designates the First National
Bank of St. Paul and the Rosevllle State Bank as offIcial deposi-
tories for funds of the City of Arden Hills for the calendar year
1975: and
WHEREAS, It Is desirable to Invest City funds at the hls'est
available Interest rate,
NOW, THEREFORE, BE IT HEREBY RESOLVED that effective thl.
date, the following banks are designated additional depositories
for the sole purpose of Investing funds of the City of Arden Hills
In Certificates of Deposit:
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~ .
American National Bank of St, Paul
Northwestern National Bank of st, Paul
First National Bank of ' Minneapolis
Northwestern National Bank of Minneapolis
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BE IT FURTHER RESOLVED, that the City Treasurer Isautherlzed
'. to take whatever actlons are necessary to make I nvestmen:fJl."ln
Certificates of Deposit at the foresald depositories and to ascer-
tain that ~dequate security, as required by the laws of the State
of Minnesota, Is furnished by such depositories to protect the
City's deposited funds llglllnst financial loss,
.
of January, 1975,
Passed by the City Council of Arden Hills,
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Minnesota this 2nd day
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Charlotte McNlesh -
Clerk Administrator
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