HomeMy WebLinkAbout06-004
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CITY OF ARDEN HILLS
COUNTY OF RAMSEY
STATE OF MINNESOTA
RESOLUTION NO. 06-04
RESOLUTION DESIGNATING MONEY MARKET DEPOSITORIES
FOR INVESTMENT PURPOSES
WHEREAS, Resolution No.06-02 designates the u.s. Bank St. Paul, N.A. as the official
depository for funds of the City of Arden Hills for calendar year 2006; and
WHEREAS, it is desirable to invest City funds at the highest available interest rate;
NOW THEREFORE, BE IT RESOLVED that effective this date, the following moncy
market funds are designated additional depositories for the sole purpose of investing cash or cash
equivalent funds of the City of Arden Hills:
Minnesota Municipal Liquid Asset Fund (4M Liquid Asset and 4M PLUS Funds);
Wells Fargo Government Money Market Fund; and Salomon Smith Barney Money Funds
Government Portfolio Class A.
BE IT FURTHER RESOLVED, that the Treasurer is authorized to take whatever actions
are necessary to make investments in the aforesaid money market funds and to ascertain that
adequate security, as required by the laws of the State of Minnesota, is furnished by such money
market funds to protect the City's deposited funds against financial loss.
ADOPTED BY THE CITY COUNCIL OF THE CITY OF ARDEN HILLS THIS 9th
DAY OF JANUARY, 2006.
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ATTEST:
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Michelle A. Wolfe, ADMINISTRA TO
\\Metro-inct.us\ArdenHills\Admin\Council\Resolutions\2006\06-04, Designating Additional Money Market Depositories.doc