HomeMy WebLinkAbout85-002
STATE OF MINNESOTA
COUNTY OF RAMSEY
CITY OF ARDEN HILLS
Resolution No. 85-2
DESIGNATION OF ADDITIONAL DEPOSITORIES
FOR INVESTMENT PURPOSES
.
WHEREAS, Resolution No. 85-1 designates the Norwest Bank St. Paul,
N.A. and the Roseville State Bank as official depositories for funds of
the City of Arden Hills for the calendar year 1985; 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 Federal Savings and Loan Assoc. of Minneapolis
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 Assoc.
Minnesota Federal Savings and Loan Assoc.
Twin City Federal Savings and Loan Assoc.
BE IT FURTHER RESOLVED, that the City Treasurer is authorized
to take whatever actions are necessary to make investments at the afore-
said 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, 1985.
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Mayor
ATTEST:
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Charlotte McNiesh
Clerk Administrator
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