HomeMy WebLinkAbout83-003
STATE OF MINNESOTA
COUN-,-Y OF RMSEY
CITY OF ARDEN HILLS
RESOLUTION NO. 83-3
RESOLUTION DESIGNATING BROKERAGE FIRMS FOR
INVESTMENT IN FEDERAL GOVERNMENT INSTRUMENTS
.
WHEREAS, Resolution No. 83-2 (Gslg~~tos several banks
and savings and loan companIes as depositories for the sole
purpose of investing funds of the City of Arden HI! is, and
WHEREAS, it Is desirable to invest City funds at
the highesT availuble Interest rate,
NOW, THEREFORE, BE IT RESOLVED that, effective this
date, t~e fol lowing brokerage firms are des!gnated for the sole
purpose of investing City funds fn federal government Instru-
monts:
Kidder Psobody & Company, Inc.
Merri I ~, Lynch, Pierce, Fenner & Smith, Inc.
BE IT FURTHER RESOLVED that the City Treasurer Is
authorized to take whatever actions are necossary to make
Investments at the aforesaid brokerage firms, and
BE IT FURTHER RESOLVED that no col~ateral be required
since investments are authorized only In federaft government
instruments which are backed by the full faith and credit of
the United States Government.
Passed by the Arden Hills City Councl I this 3rd day
. of January, 1983.
f~~
Robel"t L. Woodburn
Mayor
ATTES T:
(]iLaf;~
Char!ot~e NeNiash
Clerk Administrator