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STATE OF MINNESOTA
COUNTY OF RAMSEY
CITY OF ARDEN HILLS
RESOLUTION NO. 86-2
DESIGNATION OF ADDITIONAL DEPOSITORIES
FOR INVESTMENT PURPOSES
.
WHEREAS, Resolution No. 86-1 designates the Norwest
Bank, St. Paul, N.A. and the Roseville Bank as official
depositories for funds of the City of Arden Hills for the
calendar year 1986; and
WHEREAS, it is desirable to invest City funds at
the highest available interest rate;
NOW, THEREFORE, BE IT HEREBY RESOLVED that effective
this date, the following banks and savings and loans are
designated additional depositories for the sole purpose of
investing funds of the City of Arden Hills:
American National Bank of St. Paul
American Savings and Loan, Stockton, California
First Minnesota Savings, F.S.B.
First National Bank of St. Paul
First National Bank of Minneapolis
Norwest Bank Minneapolis, N.A.
Oak Park Heights State Bank
Midwest Federal Savings and Loan Association
Twin City Federal Savings and Loan Association
BE IT FURTHER RESOLVED, that the City Treasurer
is authorized to take whatever actions are necessary to make
investments at the aforesaid depositories and to ascertain
that adequate security, as required by the laws of the State
of Minnesota, is furnished by such depositories to protect
the City's deposited funds against financial loss.
Passed by the City Council of Arden Hills, Minnesota
this 2nd day of January, 1986.
t?~~~A~
Robert L. Woodburn
Mayor
ATTEST:
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Charlotte McNiesh
Clerk Administrator