HomeMy WebLinkAbout90-002
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CITY OF ARDEN HILLS
RAMSEY COUNTY, MINNESOTA
RESOLUTION NO. 90-02
DESIGNATION OF ADDITIONAL DEPOSITORIES
FOR INVESTMENT PURPOSES
WHEREAS, Resolution No. 90-01 designates the Norwest Bank, St. Paul,
N.A. and the Firstar Roseville Bank as official depositories for funds of
the City of Arden Hills for the calendar year 1990; 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
First Minnesota Savings Bank
Norwest Investment Services, Inc.
Twin City Federal Savings & Loan Association
Minnesota Municipal Money Market Fund (4M 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.
Passed by the City Council of Arden Hills, Minnesota, this 8th day of
January, 1990.
~fJk
Thomas R. Sather
Mayor
ATTEST:
Gar~e~er ~
City Administrator