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CITY OF ARDEN HILLS
COUNTY OF RAMSEY
STATE OF MINNESOTA
RESOLUTION NO. 00-03
RESOLUTION DESIGNATING BROKERAGE FIRMS FOR INVESTMENT IN
FINANCIAL INSTRUMENTS AUTHORIZED BY STATE STATUTE
CONSISTENT WITH THE CITY INVESTMENT POLICY
WHEREAS, Resolution No. 00-02 designates several Money Market Funds depositories for the
sole purpose of investing funds of the City of Arden Hills; and
WHEREAS, it is dcsirable to invest City funds at the highest available interest rate;
NOW THEREFORE, BE IT RESOLVED that effective this date, the following brokerage
firms are designated for the sole purpose of investing City funds in Federal government
instruments or other authorized investments allowed by State statutes and consistent with the
formal investment policy of the City:
Dain Rauscher Corp.
Minnesota Municipal Money Market Fund (4M Liquid Asset and PLUS Flmds)
Norwest Investment Services, Inc_
. Salomon Smith Barney Inc.
BE IT FURTHER RESOLVED, that the City Treasurer is authorized to take whatever actions
are necessary to make investments at the aforesaid brokerage firms and to ascertain that adequate
security, as required by the laws of the State of Minnesota, is furnished by the issuing bank or
savings and loan to protect the City's deposited funds against financial loss; and
BE IT FURTHER RESOLVED, that no collateral be required for Federal government
instruments since these investments are backed by the full faith and credit of the United States
government.
PASSED AND ADOPTED BY THE CITY COUNCIL F THE CITY OF ARDEN HILLS
THIS 3RD DAY OF JANUARY, 2000.
ATTEST:
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