HomeMy WebLinkAbout92-002
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CITY OF ARDEN HILLS
RAMSEY COUNTY, MINNESOTA
RESOLUTION NO. 92-02
RESOLUTION DESIGNATING ADDITIONAL DEPOSITORIES
FOR INVESTMENT PURPOSES
WHEREAS, Resolution No. 92-01 designates the Norwest Bank
Minnesota, N.A. as the official depository for funds of the city
of Arden Hills for calendar year 1992; 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 are designated additional depositories for
the sole purpose of investing funds of the city of Arden Hills:
American National Bank of St. Paul
Norwest Investment Services, Inc.
Minnesota Municipal Money Market Fund (4M Fund)
Piper Jaffray Money Market Fund
Norwest Bank Minnesota N.A., Prime Value Fund
Shearson Lehman Hutton Money Market Fund
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.
ADOPTED
1992.
BY THE ARDEN HILLS CITY COUN1:IL THIS , D D Y OF JANUARY,
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Thomas R. Sa her, Mayor
ATTEST:
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Gary R. Berger, City Administrator