HomeMy WebLinkAbout84-003
STATE OF MINNESOTA
COUNTY OF RAMSEY
CITY OF ARDEN HILLS
Resolution No. 84-3
RESOLUTION DESIGNATING BROKERAGE FIRMS FOR
I NVESTMENTI N FEDERAL GOVERNMENT INSTRUMENTS
WHEREAS, It Is desirable to invest City funds at
the hlJhest 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:
Kl dder Peabody & Company, Inc.
Merrill, Lyncn, Pierce, Fenner & Smith, Inc.
BE IT FURTHER RESOLVED that the City Treasur.er Is
authorized to take whlltever actions lire necessary to make
Investments at the aforesaid brokerage firms, and
BE IT FURTHER RESOLVED that nocoflateral be
required since Investments are authoriZed only In federal
government Instruments which ere backed by the full faith
and credit of the United States Government.
Passed by the Arden Hills City Council this 3rd'day
of January, 1984.
.
;(~~
~obert L. Woodburn
Mayor
ATTEST:
~1-H.~@~
Clerk Administrator