HomeMy WebLinkAbout89-005
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STATE OF MINNESOTA
COUNTY OF RAMSEY
CITY OF ARDEN HILLS
RESOLUTION NO. 89-05
DESIGNATION OF ADDITIONAL DEPOSITORIES
FOR INVESTMENT PURPOSES
WHEREAS, Resolution No. 89-04 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 1989; 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, F.S.B.
First National Bank of St. Paul
First National Bank of Minneapolis
Norwest Bank Minneapolis, N.A.
Midwest Federal Savings & Loan Association
Twin City Federal Savings & Loan Association
Minnesota Municipal 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.
Passed by the City Council of Arden Hills, Minn
January, 1989.
ATTEST:
Ga~e~er~
Clerk Administrator